Workers' compensation insurance rates will drop 6.8 percent, effective Jan. 1, based on a final report issued Monday by Florida Insurance Commissioner Kevin McCarty.

This marks the seventh consecutive annual decline in workers' comp rates since 2003, when the Florida law was revised and attorneys' fees on workers' compensation claims appeals were capped.

In late 2008, a Florida Supreme Court ruling lifted the caps, but a law passed in May reinstated caps on fees for lawyers who represent workers in compensation appeals for on-the-job injuries.

With this rate change, the cumulative overall statewide average rate decrease since 2003 will be more than 63 percent.

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