Florida Insurance Commissioner has approved a 4.9% average decrease in workers’ compensation rates for 2022, as recommended by the National Council on Compensation Insurance. The decrease is the sixth straight for Florida. Last year, the NCCI proposed a 5.7% cut but the Florida Office of Insurance Regulation demanded more and ultimately approved a 6.6% decrease for 2021. Rates jumped in…
The Occupational Safety and Health Administration (OSHA) released its preliminary list of the top 10 most frequently cited safety violations at this month’s National Safety Council Congress & Expo, the world’s largest gathering of safety professionals. The OSHA list is determined following worksite inspections throughout the fiscal year and alerts employees and safety professionals about areas of frequent citations to…
Florida workers’ compensation rates are set to decline again as the National Council on Compensation Insurance (NCCI) has proposed a statewide rate decrease of 4.9% in the voluntary market. The rates would take effect Jan. 1, 2022 if approved by the Florida Office of Insurance Regulation (OIR). NCCI is a licensed rating organization authorized to make recommended rate filings…
The Occupational Safety and Health Administration (OSHA) has announced its preliminary Top 10 most frequently cited workplace safety standards for fiscal year 2020. Although multiple standards swapped positions, the Top 10 violations from FY 2019 to FY 2020 did not change. Ladders (1926.1053) climbed to a top-five spot, and Respiratory Protection (1910.134) rose to the third rank from fifth. Additionally, the data show…
Fleet vehicle accidents are among the most costly injury claims for businesses. The average cost of a loss related to vehicle accidents is approximately $70,000. This is almost twice the cost of the average workplace injury ($36,592). Without a formal fleet safety program, you may be putting the welfare of your employees and company at risk. A generic safety program…
For most employers, the cost of an employee’s work-related injury is covered by workers’ compensation insurance, which pays for medical care and replaces some of the income that the injured employee lost while unable to work. There is no coverage, however, for the hidden costs to your organization of that injury, such as reduced efficiency, the cost of training replacements,…
Florida Insurance Commissioner David Altmaier recently issued an Order to the National Council on Compensation Insurance (NCCI) requesting an amended rate filing to further reduce workers’ compensation rates for 2021. NCCI submitted an amended filing on November 4, 2020, reflecting an overall average voluntary rate level decrease of 6.6%. The OIR approved the amended filing on November 12, 2020. This…
A wave of increased litigation will likely emerge as workers who have been laid off see their savings run low and start to look for alternative sources of income. The key to addressing this phase will be how organizations conduct layoffs. Companies that initiate layoffs with little forethought and guidance may see a rise in workers compensation claims and experience…
As a business owner and employer, COVID-19 has likely caused major changes in the way you are operating your business. As we now look to reopening the economy and other segments of business, you should be prepared for when an employee falls ill or tests positive for COVID-19. OSHA has provided Guidance on Preparing Workplaces for COVID-19. In addition, you should consider…
The Occupational Safety and Health Administration released guidance to help employers prepare their workplaces for an outbreak of COVID-19 — along with a reminder that any incidents of employees contracting the novel coronavirus at work are recordable illnesses, subject to the same rules and failure-to-record fines as other workplace injuries and illnesses. While OSHA specifically exempts employers from recording incidents…
