Florida Reforms Keep The Heat On WC Rates

Florida Insurance Commissioner Kevin McCarty's move to reduceworkers' compensation rates by a statewide average of 5.1 percenthardly came as a surprise. After all, with the passage of reformsin 2003, the market is showing many signs of once again becomingcompetitive following several years of being in a downwardcycle.

Still, the market is highly sensitive to any rate changes thatmight upset the delicate balance between profits and losses. Andwhile employers celebrate a welcomed reduction in premiums, thoserisk managers in the places where the cuts run the deepest maystill find coverage elusive.

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