Florida Insurance Commissioner Mike Yaworsky on Monday approved a 6.9 percent statewide reduction in workers’ compensation insurance rates, effective January 1, 2026, for both new and renewal policies.
The filing submitted by the National Council on Compensation Insurance (NCCI) cited improvements in the workers’ compensation system, including declines in lost-time claim frequency, as consideration factors behind the change.
Monday’s announced decrease marks the ninth consecutive year that Florida has achieved a workers’ compensation rate decrease. Yaworsky noted that the reduction will lower operating costs for employers and bolster Florida’s business environment.
“I am pleased to approve a substantial rate cut of 6.9% for Florida’s workers’ compensation policies this upcoming year. This rate decrease directly translates to reduced operating costs for businesses, encouraging investment and growth throughout Florida’s economy,” he said. “This also marks the ninth consecutive year of rate decreases for workers’ compensation policies—more evidence of Florida’s success in managing risk and maintaining a competitive insurance environment.”
According to NCCI’s summary, the recommended filing was based on 2022 and 2023 experience data as of year-end 2024, reflecting steady gains in workplace safety and improved loss metrics.
