Nearly 13,000 workers compensation policyholders in Florida will receive premium refunds totaling $27.6 million, the state’s chief financial officer announced Wednesday in a statement.
Policyholders of the Florida Workers Compensation Joint Underwriting Association, a self-funding plan for employers unable to purchase insurance in the voluntary market, will be eligible for the premium refund, which Florida’s CFO, Jimmy Patronis, said will help “employers re-open and get back to work.”
The last time the association announced a policyholder refund was in 2013.
Florida Insurance Commissioner David Altmaier ordered a 13.8% workers compensation rate decrease for 2019 — slightly larger than the 13.4% decline submitted by the National Council on Compensation Insurance in August.