Puerto Rico slashes workers’ comp premiums by half for most employers, effective July 1st, 2023, and proposes doubling weekly allowances and instituting cost-of-living adjustments for all injured workers’ benefits.

Posted by & filed under Employment Law, NPC Legal Blog.

Corporación del Fondo del Seguro del Estado

On June 21, 2023, the Governor of Puerto Rico, Hon. Pedro Pierluisi Urrutia together with the Administrator of the State Insurance Fund Corporation, Jesús M. Rodríguez Rosa, announced dramatic measures and proposals for the next legislative session.  The Governor announced a historic 50% reduction in workers’ compensation premiums for most employers, effective July 1st, 2023, as well as a legislative bill to increase weekly allowances by 100% and make cost-of-living adjustments for injured workers.