WORKERS’ COMPENSATION FUND COST SAVINGS – According to the Florida Department of Financial Services, cost savings in two Florida funds paid into by workers’ compensation carriers are expected to equal a nearly $20 million reduction in expenses for insurers in the state next year. Legislative changes in 1997 resulted in the Special Disability Trust Fund (SDTF) being prospectively abolished and statutorily prohibited from accepting new claims for dates of accident after Dec. 31, 1997; however, in accordance with Florida law, insurers and individual self-insured employers continue to be assessed to fund a small number of older claims. Further, fiscally responsible management of the Workers’ Compensation Administration Trust Fund (WCATF) has allowed for assessment rates to be reduced. The 2019 assessment rate reduction will be the seventh reduction for the WCATF, and the ninth for the SDTF.
Offices located in the Daytona Beach International Airport (passenger terminal)
700 Catalina Drive, Suite 200
Daytona Beach, Florida 32114
386-248-8048 · 800-554-3801