Florida Recession Bruises Workers' Compensation Carriers
August 23, 2010 by Randy Zeldin
Due to high unemployment, particularly in the construction trades, Florida workers' compensation carriers have seen a large drop in profits. As unemployment has soared, construction has virtually stopped in Palm Beach and Broward Counties. Many construction workers have left the State, seeking employment elsewhere. According to the
Insurance Information Institute, this has resulted in a dramatic drop in the need for workers' compensation insurance and a huge loss of profitability. The cost of workers' compensation insurance has dropped precipitously.
Boca Raton workers' compensation attorney Randy Zeldin, Esq. has heard many of his construction clients wishing that a hurricane will bring about a reinvigorated boom in jobs.
