workers' compensation insurance rates

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The state Office of Insurance Regulation has scheduled an Oct. 17 hearing on a proposal that could lead to an average 13.4 percent reduction in workers’ compensation insurance rates next year, according to a notice published Monday in the Florida Administrative Register. 

Billy Doyle Walker loved working in the sky. He used to say he could see forever, perched high up communications towers as he applied fresh paint.

Three years ago, working halfway up a 300-foot steel tower at the LBJ Ranch, the panoramic view included the rolling green hills and meadows of the Texas Hill Country. The tower was used by former President Lyndon B. Johnson to communicate with the White House.

Florida regulators are approving a drop in workers' compensation insurance rates.

Insurance Commissioner Kevin McCarty this past week announced that he was approving a rate drop for insurers that provide coverage for on-the-job injuries.

Rates will drop overall by 5.2 percent. The rate change will take effect on Jan. 1.

This marks the first time that workers' compensation insurance rates have dropped in the last four years.