Workers’ compensation insurance policies will be a bit more affordable in Florida thanks to an Office of Insurance Regulation ( OIR ) decision this week to lower rates by 6.9%.

The average rate decrease on new and renewal policies will take effect Jan. 1 in Florida. It’s the ninth consecutive year that Florida has decreased those rates.

The decrease was proposed by the National Council on Compensation Insurance . The move is designed to provide relief for employers across Florida.

Insurance Commissioner Mike Yaworsky issued the final order approving the rate decrease Monday.

“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, e

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