Workers Compensation Update

Monday, October 31, 2016

The Florida Office of Insurance Regulation (OIR) officials said in their biannual conference last week that their top priorities for the 2017 legislative session are to address workers comp insurance and property insurance cost drivers. Legislation is expected that will address both attorneys and contractors' ways of doing business. Regarding property insurance, they say a cost driver is the assignment of benefits, a way for property insurance policyholders to sign away their insurance rights to contractors or attorneys in exchange for quicker repairs. That drives up property insurance costs. In regard to workers comp legislation, the OIR plans to be actively involved in shaping the debate as they have strong opinions on protecting injured workers, how workers access the workers comp market and more.

Nancy Stephens, CAE, DPL 10/31/2016

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