The Recession Impacts Florida Workers' Compensation
The prestigious Workers' Compensation Research Institute, has issued a new report, detailing the impact of the ongoing recession on workers' compensation systems across the U.S.. The State of Florida has seen less impact, but here are some of the report's key findings:
1. Overall indemnity (lost wages) payments were increased by only 3% in 2009. Surprisingly, the dollar amount per lump sum settlement of workers' compensation cases in Florida, rose by 12%.
2. Also increasing by 12% for the year 2009, was the cost paid to workers' compensation defense attorneys in Florida.
3. Overall medical costs in workers' compensation rose by 7% in Florida.
Workers' compensation attorney and lawyer, Randy Zeldin, Esq., of Boca Raton, commented that he anticipates that the value of settlements and the dollar amount of indemnity being paid, has dropped steadily since 2009 through the present. Randy Zeldin, Esq. represents injured workers throughout South Florida, including Pompano Beach, Deerfield Beach, Boca Raton, Delray Beach and Boynton Beach.
