Florida just cut workers' compensation rates for the ninth year in a row — down 6.9% in 2026. But lower rates don't change the legal requirements, and they don't protect a business that's uninsured, underinsured, or misclassifying employees. This guide covers exactly what Florida and New York employers are required to carry, what workers' comp actually pays, what it costs by industry, and the five mistakes that cause audit surprises and inflated premiums — so you're covered correctly before a claim forces the conversation.