At Licenses Etc., we believe in sharing important information with our clients and others in the contracting community. Below, wanted to share an announcement from the Florida Department of Financial Services about Florida Workers’ Compensation.

The Florida Department of Economic Opportunity has decided that the statewide average weekly wage paid by employers subject to the Florida Reemployment Assistance Program Law to be $886.46 for the calendar quarters ending June 30, 2016.

Subsection 440.12(2), Florida Statutes (2016), expressly provides that, for injuries occurring on or after August 1, 1979, the weekly compensation rate shall be equal to 100 percent of the statewide average weekly wage, adjusted to the nearest dollar, and that the average weekly wage determined by the Department of Economic Opportunity for the four calendar quarters ending each June 30 shall be used in determining the maximum weekly compensation rate with respect to injuries occurring in the calendar year immediately following.

Accordingly, the maximum weekly compensation rate for work-related injuries and illnesses occurring on or after January 1, 2017 shall be $886.00.

If you have any questions about this rate information or worker’s compensation in general, contact us here at Licenses Etc. We are happy to help. If you’re looking to get your Florida contractor’s license, our team can make the license application process simple and fast. To contact us and get the process started, click here or 239-777-1028.