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Florida Workmans' Comp

Our Service Promise to you!

Whether you are brand new in business looking for first time Florida workmans’ comp coverage or an experienced business looking for proven methods to lower workers’ comp costs, we are here to assist you. We will make sure that you are paying the lowest Florida workmans’ comp premiums possible.

This is how we do it: We’ve identified 14 “Cost Drivers” that impact the bottom line premium that you pay for workmans’ comp in Florida. Continual analysis of each of these “Cost Drivers” by Work Comp Specialists ensures you are paying workers’ comp premiums that are lower than your industry competitors and allows you to keep more of your hard earned profits in your pocket.


Workers' Comp Cost Drivers

  1. NCCI Experience MOD Factor (EMR)
  2. Classification / Class Codes of Workers
  3. Rates
  4. Drug Free Workplace Credit
  5. Workplace Safety Credits
  6. Annual Audits
  7. Premium Payment Plan
  8. Dividend or Loss Sensitive Plan Type
  9. Per Claim Deductible Credits
  10. Florida Contractor’s Credit (FCCPAP)
  11. Work Comp Claims
  12. Back to Work / Light Duty Program
  13. Florida Workmans’ Comp Exemptions
  14. Workers’ Comp Certificates

1. NCCI Experience MOD Factor (EMR)

The National Council on Compensation Insurance (NCCI) develops you experience MOD annually and insurance carriers use it as a tool to compare your claims experience to that of your industry. It is our experience that 53% of businesses have errors on the calculation worksheet that determines their MOD and that can cost your bottom line thousands of dollars. A thorough review of your experience MOD worksheet by our experts leads to lower workers’ comp premiums. To learn more about your NCCI Experience MOD Factor and how mistakes can cost you your hard earned profits, click the link. If you’d like a work comp specialist to perform a no obligation review your NCCI MOD Factor worksheet, click Contact Us.

2. Classification / Class Codes of Workers

For workmans’ comp rating purposes, each worker within a company is assigned a four digit work comp classification code based on their specific job duties. The National Council on Compensation Insurance (NCCI) publishes a “Scopes Manual” that contains over 600 class codes and their definitions. In Florida workmans’ comp, each class code has a corresponding rate per every one hundred dollars of payroll that is used to calculate how much premium you pay. Depending on your type of business, there can be multiple class codes that apply to your employees. At Work Comp Specialists, we closely review your employees’ job duties and match them with the appropriate NCCI class code to ensure you are paying the proper amount of premium. Classification mistakes by carriers and other agents are common and once corrected, are a proven way to lower your workers’ comp expense. To get an online quote to see which class codes best fit your employees, click Get a Quote.

3. Rates

Each year, every carrier that writes Florida workmans’ comp coverage is required to submit the claims and payroll data for each policy to the National Council on Compensation Insurance (NCCI). The NCCI takes this data and actuarially computes the amount of rate each class code needs to collect in order to cover the costs of the claims that class code is expected to have in the upcoming year. In Florida, rates are filed annually in the fall by the NCCI to the Florida Department of Insurance and the DOI makes any changes it sees fit before filing the final rates effective January 1st of the next year. To see what your rates and premiums are for your business, click Get a Quote.

4. Drug Free Workplace Credit

Drug testing is an effective tool to keeping a workplace safe. Several states offer a premium credit on workers’ comp policies for business that are a Certified Drug Free Workplace. Employers can sometimes get confused regarding what constitutes a “certified” drug free policy. In Florida, only “certified” policies lead to the workers’ comp premium credit of 5% and denied claims based on a positive drug test. The Florida Workmans’ Comp Statutes outline the requirements for a “certified” drug free policy. Basically, certain items must be included in a written drug free policy to be distributed to all employees. Also, a “certified” program requires that an employer test all potential new hires and require employees to be tested when there has been an accident.

If you decide to take advantage of this credit to lower your workers’ comp premium, not only will Work Comp Specialists provide you with a state of Florida approved drug-free policy at no cost to you, we will also help you recertify your program for the 5% credit each year at your renewal. Valuable premium credits can be lost if your agent is not active in reviewing your policy and recertifying each and every year.

To see how much premium you can save with the addition of the Drug Free Workplace Credit on your policy, click Get a Quote.

5. Workplace Safety Credit

In Florida, workmans’ comp carriers offer a 2% premium credit to all employers who have a state certified written safety programs and hold safety meetings on a quarterly basis.

As your partner in your efforts to lower workers’ comp premiums, Work Comp Specialists will help provide you with a written safety program for your business and send you quarterly reminders to hold your safety meetings at our cost. We will also provide you safety topics to discuss at your meeting specific to your industry. Like the Drug Free Workplace Credit, this credit also requires an employer to re-apply at each policy renewal. Work Comp Specialists will contact your insurance carrier to ensure they have your application and the credit is on your policy. This safety net service ensures this valuable credit is not missed and your profits are not wasted.

To see how much premium you can save with the addition of the Workplace Safety Credit on your policy, click Get a Quote.

6. Annual Audits

An audit is done at the expiration of your policy period to verify actual payroll information versus your estimated payroll for the year. The audit results will determine if you owe additional premium or are due a refund for overpayment. As your work comp specialist agency, we take the pain out of audits by providing you with a list of items you’ll need for the audit and our audit specialists review it for errors when it is completed. Costly audit mistakes are common and we have a proven track record of disputing incorrect audits and recovering premium for our clients. To learn more about our Work Comp Premium Recovery Service click the link.

7. Premium Payment Plan Solutions

Like the old saying goes in business, “Cash is King”. Our strong platform with our carriers allows us the ability to offer down payments as low as $200 for your annual policy. Our flexible payment plan options include:

  1. Monthly Pay As You Go - pay your premium based on your actual payroll not estimated payroll. This prevents audit balances at the end of the policy. Most of our clients choose this method of payment.

  2. Per Pay Period Pay As You Go – available through one of our payroll company partners.

  3. Monthly installments based on estimated premium.* Usually 10 installments.

  4. Quarterly installments based on your estimated premium.*

  5. Annual installment based on your annual premium.

To get an online quote and see which payment plan fits you best, click Get a Quote.

*No finance charges

8. Dividend and Loss Sensitive Plan Solutions

In Florida, some workmans’ comp carriers offer their policy holders the ability to earn a portion of their premium they pay in back in the form of a dividend. In traditional dividend plans, the amount of returned premium you can earn is based on the claims dollars you incur during the policy year. Dividend plans vary greatly from carrier to carrier and from agency to agency. Allow Work Comp Specialists to leverage our platform with our carriers to get you the dividend plan you deserve. The amount of dividend you earn leads to lower workers’ comp costs for your business. To learn more about the different types of dividend and return of premium plans, click on the links below:

  1. Dividends – return of premium calculated as quickly as 6 months after policy expiration based on losses

  2. Incurred loss retro – return of premium based on losses over a 3 year period

  3. Paid loss retro – allows you to pay in a fraction of your premium

  4. Up front Dividend – a fixed dividend percentage paid to you regardless of losses

If you are a small business and don’t have a dividend plan– we can fix that. We have dividend plans available to business with premiums as low as $1,000. Click Get a Quote to see how much dividend you can earn.

9. Per Claim Deductible Credits

Everyone is familiar with deductible when it comes to auto insurance policies but did you know deductibles are available on Florida workmans’ comp policies as well? Work Comp Specialists will review your claims experience for the past several years and analyze the pros and cons of adding a per claim deductible to your work comp policy. There are different credit amounts available to lower your workers’ comp premium based on the amount of deductible you choose. To see if a deductible would make sense for your policy, click Get a Quote.

10. Florida Contractor’s Credit (FCCPAP)

Many years ago the National Council on Compensation Insurance (NCCI) developed a special credit available only to contractors on their Florida workmans’ comp policies. The credit is based on a formula that takes into account the amount of hourly wage a construction based business pays their workers that are on job sites. It is our experience at Work Comp Specialists that over 40% of contractors do not take advantage of this credit to lower their workers’ comp costs. To see if your business qualifies for this credit, click Contact Us to speak to one of our specialists now.

11. Workers’ Comp Claims

Like most insurance, you never really know what work comp coverage is worth until it’s time to file a claim. Claims CAN and WILL determine how much you pay in Florida workmans’ comp premium. The first 30 days of a work comp claim can determine how a claim proceeds and how much is paid out. Is your current agent on a first name basis with your adjuster and have your best interests at heart? At Work Comp Specialists we have dedicated experts that monitor your claims daily to minimize their impact on your loss experience which helps keep your MOD factor low and amount of dividend you earn back high. These proven methods translate into lower workers’ comp premiums and more profits in your pocket. To learn which types of claims are and are not compensable under Florida workmans’ comp, click FAQ.

At Work Comp Specialists, we developed 7 proven claim strategies to keeping claim costs down which in turn keeps the amount you pay in workers’ comp premium down.

12. Back to Work / Light Duty Program

When you do have an employee on workers’ comp, the treating physician will determine when they are able to come back to work and in what capacity. Often times, the worker may be released “light duty” with restrictions the doctor says must be followed in order to return to work. As an employer, the use of an effective “Light Duty” policy can lead to lower workers’ comp costs. Allow Work Comp Specialists to assist you with developing and implementing your “Light Duty” program.

You benefit two fold by bringing that employee back to work in a light duty role. One, if the claim can be kept as a “medical only” claim (a claim where no indemnity or lost time benefits are paid), the total cost of the claim is discounted 70% when it is used in your NCCI Experience MOD Factor calculation. This results in a lower workers’ comp MOD factor. The second benefit to bringing an employee back to a light duty position is that that employee feels like a valued member of the company. Keep in mind as a Florida workmans’ comp policy holder, you only have to pay a worker that is on light duty 80% of the pre-injury average weekly wage.

13. Florida Workmans’ Comp Exemptions

In Florida, any individual that is an officer of a corporation that is registered with the Florida Department of State Division of Corporations, can elect to be exempt from workers’ compensation coverage. At Work Comp Specialists, we take the time to educate you on the pros and cons of exempting yourself from your work comp policy so you can make an informed decision. To learn more about Florida workmans’ comp exemptions, click the link.

14. Work Comp Certificates

A certificate of insurance is simply an informational document issued by an insurance company/agency that provides proof of insurance. The certificate supplies policy information about the type of, and existence of, Florida workmans’ compensation insurance coverage.

At Work Comp Specialists, we know how valuable a fast turn-around time on certificates is to our clients. Certificates of insurance are issued by us as quickly as possible via fax, email, or mail. For the fastest service, we offer our insured’s the opportunity to print their own certificates of insurance 24/7 from their desk top with our online service, Certificates 24/7. This free service allows our clients to print their certificates at their own convenience. No more delays to be paid on a job because you are waiting on your agent to fulfill your certificate request!

To start having the ability to print your own certificates for your Florida workmans’ comp policy, click Get a Quote.