August 27, 2007

Florida’s Employers and Employees Reap Benefits of Recent Reforms

TALLAHASSEE, Fla. – Associated Industries of Florida executives today applauded the latest proposed reduction in workers compensation insurance rates.  This would be the fifth consecutive year of decreasing insurance rates in the state-- another sign of success attributed to the comprehensive reforms passed to benefit both Florida’s employers and workers.

“It is gratifying to see that Florida’s business community will again enjoy falling worker’s comp rates,” said Barney Bishop CEO and president of AIF.  “I commend the hard work of our Association leaders in 2003, including General Counsel Emeritus Mary Ann Stiles of the firm Stiles, Taylor and Grace, who helped spearhead a coalition of employer organizations committed to transforming the workers’ comp system and reducing the cost of doing business in Florida.”

The workers compensation statute has resulted in:

• Employers benefiting from a cumulative decrease in premiums, exceeding 50% on average
• Savings of over $1 billion in the last four years alone  
• Injured workers’ retaining larger amounts of their compensation awards

“The workers comp reforms have made an enormous difference by limiting attorney fees to a percentage of the claimant’s injuries,” Bishop continued.  “By reducing unnecessary and litigious attorney participation, the focus is where it needs to be – on helping the worker get well and back to work.” 

AIF, with the assistance of Stiles, Taylor and Grace, and the Florida Insurance Council continue working together to defend the worker’s compensation statute.  Trial lawyers’ are appealing to the First District Court of Appeals to overturn the attorney fee provisions in the law.  To this point, the courts have justly and consistently upheld the validity of the law.

NCCI Rate Filing Release