Roofers wary of lower workers' comp rates - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
October 17, 2024 Newswires
Share
Share
Post
Email

Roofers wary of lower workers' comp rates

Jim SaunderSPalatka Daily News

TALLAHASSEE - Pointing to issues such as heavy demand for repairs after hurricanes and an increase in young, inexperienced workers, a roofing-contractors industry group Tuesday argued against lowering workers' compensation insurance rates for roofers.

Leaders of the Florida Roof ing and Sheet Metal Contractors Association urged state regulators to freeze the roofing industry's rates, rather than approve a decrease that would take effect in 2025.

The arguments came during a hearing held by the Florida Office of Insurance Regulation to consider a proposal to reduce rates for employers by an overall average of 1 percent.

While it might seem counterintuitive for an industry group to oppose reducing rates, leaders of the roofing contractors association - which has a self-insurance fund - expressed concerns about stability and a potential increase in future claims.

"FRSA believes that considering recent hurricanes and those over the past few years, we will begin to see more inexperienced labor hired as contractors struggle to keep up with the growing demand for work," Lisa Pate, the association's executive director, said. "Many older workers are retiring, and the pull for younger employees who want to work on roofs is dwindling. This trend will place more inexperienced workers on roofs and job sites and open contractors up to additional exposure. It's only a matter of time before injuries and claims increase and rates swing in the opposite direction. Consistency in the rates will help mitigate this exposure."

The National Council on Compensation Insurance, better known as NCCI, proposes rates each year to regulators for the workers' compensation insurance industry. In August, NCCI proposed an overall average 1 percent decrease for 2025, seeking to continue a string of years of reduced rates.

As an example, regulators approved a 15.1 percent decrease that took effect this year and an 8.4 percent decrease that took effect in 2023.

During Tuesday's hearing, NCCI officials presented their 2025 proposal. A summary released in August by NCCI described the workers' compensation system as "healthy" and said that while "consumer inflation has been elevated, the inflation for workers' compensation medical costs remained stable." It also said a combination of continued claims "frequency declines and moderate benefit costs at or below the level of wage growth, have continued to put downward pressure on overall WC (workers' compensation) system costs relative to collected premiums."

But the proposed overall 1 percent decrease reflects numerous types of employers. Pate said what is known as a roofing rate "class code" would see a 7.89 percent decrease. She described such a rate as "unsustainable."

Tuesday's hearing came six days after the Category 3 Hurricane Milton made landfall in Sarasota County and caused property damage across the state. It a lso came af ter Hurricane Helene caused widespread damage in September. "Our experience has taught us that immediately after a hurricane, the large influx of inexperienced workers into potentially insecure environments can quickly lead to an increase in claims costs," Debbie Guidry, administrator of the association's self-insurance fund, said. It was not immediately clear Tuesday when regulators will decide whether to approve the NCCI proposal or require changes.

Older

Most Californians aren't insured for quakes

Newer

Health First Health Plans brings Parrish's facilities 'in network' for customers

Advisor News

  • Advisors must lead the policy risk conversation
  • Gen X more anxious than baby boomers about retirement
  • Taxing trend: How the OBBBA is breaking the standard deduction reliance
  • Why advisors can’t afford to delay succession planning
  • 6 in 10 Americans struggle with financial decisions
More Advisor News

Annuity News

  • CT commissioner: 70% of policyholders covered in PHL liquidation plan
  • ‘I get confused:’ Regulators ponder increasing illustration complexities
  • Three ways the Corebridge/Equitable merger could shake up the annuity market
  • Corebridge, Equitable merge to create potential new annuity sales king
  • LIMRA: Final retail annuity sales total $464.1 billion in 2025
More Annuity News

Health/Employee Benefits News

  • Auburn mayor, councilors ending their eligibility for city employee health insurance plan
  • Legislature advances bill that limits copays for Medicaid
  • Proposal limiting Medicaid copays passes 1st round
  • Many Virginians drop ACA coverage and more likely will, SCC hears
  • An uninsurance bomb is about to go off, and it will touch Orange County
More Health/Employee Benefits News

Life Insurance News

  • WHAT THEY ARE SAYING: KATHLEEN COULOMBE JOINS ACU AS CHIEF ADVOCACY OFFICER
  • A-CAP Appoints Kirk Cullimore as President of Sentinel Security Life
  • Nationwide enters centennial year stronger than ever
  • AM Best Affirms Credit Ratings of Mutual of Omaha Insurance Company and Its Subsidiaries
  • AM Best Affirms Credit Ratings of CMB Wing Lung Insurance Company Limited
More Life Insurance News

- Presented By -

Top Read Stories

More Top Read Stories >

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Protectors Vegas Arrives Nov 9th - 11th
1,000+ attendees. 150+ speakers. Join the largest event in life & annuities this November.

An FIA Cap That Stays Locked
CapLock™ from Oceanview locks the cap at issue for 5 or 7 years. No resets. Just clarity.

Aim higher with Ascend annuities
Fixed, fixed-indexed, registered index-linked and advisory annuities to help you go above and beyond

Unlock the Future of Index-Linked Solutions
Join industry leaders shaping next-gen index strategies, distribution, and innovation.

Leveraging Underwriting Innovations
See how Pacific Life’s approach to life insurance underwriting can give you a competitive edge.

Press Releases

  • RFP #T01525
  • RFP #T01725
  • Insurate expands workers’ comp into: CA, FL, LA, NC, NJ, PA, VA
  • LifeSecure Insurance Company Announces Retirement of Brian Vestergaard, Additions to Executive Leadership
  • RFP #T02226
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet