Florida employers will see another reduction in workers’ compensation insurance costs following the approval of a 6.9% statewide rate decrease. Insurance Commissioner Mike Yaworsky issued a Final Order adopting the reduction, which applies to new and renewal workers’ compensation policies beginning January 1, 2026.
Overview of the Approved Rate Decrease
Commissioner Mike Yaworsky approved the 6.9% overall rate reduction after reviewing a proposal submitted by the National Council on Compensation Insurance (NCCI). This adjustment marks the ninth consecutive year that Florida has lowered workers’ compensation rates. According to the announcement, the continued decreases provide sustained financial relief for employers operating across the state.
In the press release, Commissioner Yaworsky stated that the rate cut will reduce operating costs for Florida businesses and supports ongoing investment and growth within the state’s economy. He also noted that the nine-year streak of reductions reflects Florida’s success in managing risk and maintaining a competitive insurance market.
Public Hearing and Additional Resources
The Office of Insurance Regulation (OIR) held a virtual public hearing to review the proposed rate changes. The recording of this hearing is available for public viewing. OIR also provides additional information about the NCCI rate filing and the hearing on its website.
Stakeholders interested in broader updates on Florida’s insurance market can access highlights through OIR’s online resources.
About the Florida Office of Insurance Regulation
The Florida Office of Insurance Regulation is responsible for overseeing insurance regulation, compliance, and enforcement related to insurance business operations in the state. The agency also monitors conditions within insurance markets. More information is available on OIR’s website, and updates can be followed on X at @FLOIR_comm.