OIR Releases Workers' Comp Annual Report as Rates Rise

The Florida Office of Insurance Regulation released its annual report Wednesday on workers' compensation insurance for 2010 --days after rates increased 7.8 percent throughout the state.

There are 260 entities writing workers' compensation insurance, 255 of which are private insurers. The Florida Workers' Compensation Joint Underwriting Association and four self-insurance funds make up the rest. As of October 2010, the FWCJUA had 746 policies with premiums of $5.5 million. Florida's entire workers' compensation insurance premiums came to $1.71 billion in 2009, the seventh highest in the nation.

Rates jumped 7.8 percent as of Jan. 1, due to a final order issued by Commissioner Kevin McCarty, but overall rates are still down by 61.9 percent since 2003.