Florida Workers Comp Rates Decreasing for Landscapers

ORLANDO, Fla.--(BUSINESS WIRE)--Effective January 1, 2010, the current rates for workers’ compensation insurance in Florida are decreasing by an average of 6.8 percent. The rate decrease was proposed by the National Council on Compensation Insurance (NCCI) in August. Florida Insurance Commissioner Kevin McCarty issued a final order on October 26 to approve the amended rate filings. This is the seventh annual consecutive drop in workers’ compensation rates since 2003, the year the Florida Legislature passed sweeping reforms of the workers’ compensation system. Since that time, the cumulative average rate decrease is more than 63 percent.

For lawn maintenance businesses, the rate reduction news is even better because there was a 16.9 percent reduction from the 2009 rate. The classification code for landscape maintenance services is number 9102 and the 2010 rate for that classification is 3.49 dollars for every 100 dollars of remuneration. The rate in 2009 for this class code was 4.20 dollars. This classification of employees has a total rate decrease of 71 percent since the 2003 rates.

Landscape installation businesses also received a larger rate decrease than the state average. Businesses that install sod, plant bushes and trees, and offer other services associated with the installation of new landscapes are rated in Florida under the 0042 classification code. The 2010 rate for this workers comp classification is 6.36 dollars. This amounts to a 10.5 percent decrease from the 2009 rate.

Businesses that install irrigation systems assign those employees to the 5183 classification code. That class code received a 7.5 percent decrease and the 2010 rate is 4.75 dollars.

Tree trimming businesses were not as fortunate as the other types of landscaping service providers mentioned above. The classification code for tree trimming services is number 0106 and the new rate is 13.31 dollars. This rate marks a 2.7 percent rate increase for this classification of employees. There is still a 67.3 percent decrease since the 2003 rates, which is above the average.

For more information regarding workers’ compensation insurance or the other unique insurance needs of businesses in the landscaping industry, please contact BearWise Landscapers. There are many other factors that impact the final workers’ compensation premium of a business such as claims history (experience modification factor), dividend plans, deductibles, limits of insurance, and others. If your landscaping business is interested in receiving comparative insurance quotes on your workers comp renewal or other insurance products, please call Drew Roberts at 866-296-2327 or complete the short online quote request form at www.BearWiseLandscapers.com.

About Black Bear Insurance Agency, Inc.

Black Bear Insurance Agency is located north of Orlando in Longwood, Florida. As an independent agency, the insurance agents at Black Bear have access to multiple insurance carriers. The agency specializes in handling commercial insurance programs for Florida businesses. For more information, visit www.BlackBearAgency.com.

About BearWise Landscapers

BearWise Landscapers is a division of Black Bear Insurance Agency. The insurance agents at BearWise Landscapers specialize in the unique insurance needs of lawn maintenance, tree trimming, and landscape installation businesses in Florida. For more information and for comparative insurance quotes, please visit www.BearWiseLandscapers.com.