Florida businesses could see lower workers’ compensation insurance costs in 2026, following a proposed average rate decrease of 6.9 percent. The reduction is attributed to fewer and less severe claims, which mirrors national trends. Employers’ efforts to improve workplace safety have contributed to these outcomes by reducing injuries and enabling employees to return to work more quickly.
The Florida Office of Insurance Regulation (OIR) plans to hold a public hearing on the proposal in mid-September. A decision on whether to approve or modify the rates is expected in October or early November. If approved, the new rates would apply to policies issued or renewed beginning January 1, 2026.
Local businesses have reported that insurance costs remain a significant concern for their operations. The Florida Chamber of Commerce will address this issue at its Annual Insurance Summit scheduled for December 4-5, 2025, at the JW Marriott Orlando Grande Lakes. More information about insurance topics and event registration can be found on the Florida Chamber’s website.
“Factors influencing this year’s rate filing include a continued reduction in both the frequency and severity of claims, which is also a national trend. This improvement is attributed to employers’ ongoing commitment to enhancing workplace safety, which have reduced workplace injuries and facilitated quicker return-to-work processes for employees,” according to the statement.
The OIR’s timeline allows approved rates to take effect as planned at the start of next year for both new and renewing policies.
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