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Malpractice Insurance

Broader reach. EXPERT ADVICE

Expanded service. Update on Florida Workers’

Compensation

BY TOM MURPHY

As we prepare for the mass migration of work-
ers’ comp professionals to the annual WCI meet-
ing in Orlando this August, we want to provide a
brief update on the current state of workers’ com-
pensation in Florida.
The Florida Department of Insurance, at the
recommendation of the National Council on
Compensation Insurance (NCCI), has approved
and implemented a total of almost 12% in premi-
um-rate decreases since January 1, 2018. In my
recent conversations with a number of experts in
the workers’ comp arena, it looks like there may BY TOM MURPHY
be another rate decrease in 2019. For those of us
in the industry this is welcome news for all busi-
nesses and medical practices in Florida. The reality is that the 2016 Florida
Collaboration leads to greater resources for you. That’s why Broad and Cassel Supreme Court decisions are impacting the workers’ comp system in ways that
has partnered with Nelson Mullins to become a firm with more than 725 legal and have not been realized by the carriers due to the nature of the system taking a
business professionals working in 25 offices across 11 states and Washington,
few years to catch up to the impact of an increasing number of claims and
DC. The combined firm’s goal is to contribute to your success through added In Florida, known as Nelson Mullins Broad and Cassel
Attorneys and Counselors at Law higher payments to attorneys and injured workers.
capabilities, enhanced practices, and broader geographic reach.
The carriers and defense attorneys we work with have confirmed the
increase in the claims they are receiving as well as the demand for benefits.
163 Attorneys named 2018 100+ Ranked in the top 100 largest U.S. law firms These increases will ultimately lead to higher costs to the carriers and the over-
nelsonmullins.com
Best Lawyers in America Practice Areas in 2017 and 2018 by The American Lawyer
all system and will eventually show up in the form of rate increases for every-
one buying coverage. These eventual rate increases will continue until the leg-
SOUTH FLORIDA: islature decides to implement changes to counter the Florida Supreme Court
One N. Clematis St., Ste. 500 251 Royal Palm Way, Ste. 215 7777 Glades Rd., Ste. 300 100 S.E. 3rd Ave., Ste. 2700 2 S. Biscayne Blvd., 21st Floor
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We also want to clear up some confusion about medical practices and small
businesses that utilize PEOs or payroll companies. No practice or business is
required to use a PEO or payroll company to service its workers’ comp cover-
age. You can remain with your workers’ comp insurance company and enjoy
very beneficial dividend plans while having the same options, including “pay
as you go” to simplify your premium payments. Some unscrupulous PEOs and
“ You can’t separate the clinical payroll companies have been less than transparent with these details and want
and the fi nancial – not anymore.” you to believe that the only way you can get a “pay as you go” option is to pur-
chase their workers’ comp coverage, which is not true.

People who know Healthcare, know BDO.
Tom Murphy is a workers’ compensa-
tion and medical malpractice insurance
specialist agent with the firm of Danna-
Gracey, Inc. in downtown Delray Beach.
He can be reached at (561) 276-3553 or
(800) 966-2120 or
Murphy@dannagracey.com.

The BDO Center for Healthcare Excellence & Innovation
As the healthcare industry enters an era of unprecedented transformation, anticipating and
understanding the future state model of healthcare is more important than ever. From advising on
complex joint ventures, to M&A services, to healthcare redesign, BDO’s multidisciplinary teams help
organizations plan for and implement the fi nancial and clinical changes needed to transform their
institutions — and thrive in the years to come.
Alfredo Cepero, Managing Partner, acepero@bdo.com
Angelo Pirozzi, Partner, apirozzi@bdo.com
BDO USA, LLP, 100 SE 2nd St. Suite 1700 Miami, FL 33131 / 305-381-8000
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8 September 2018 southfloridahospitalnews.com South Florida Hospital News