Florida H1243 amends workers' compensation insurance policies to allow insurers to use excess rates for a limited percentage of policies.

Florida H1243 modifies the use of excess rates for workers' compensation insurance policies. It allows insurers to apply excess rates for up to 10% of their commercial insurance policies and 5% of personal lines insurance policies annually. Certain workers' compensation policies are excluded from this percentage for the first three years. The bill also revises the composition of the Florida Workers' Compensation Insurance Guaranty Association board, increasing its size and altering the appointment process. Effective July 1, 2026.

Florida H1243 amends workers' compensation insurance policies to allow insurers to use excess rates for a limited percentage of policies.

Florida H1243 modifies the use of excess rates for workers' compensation insurance policies. It allows insurers to apply excess rates for up to 10% of their commercial insurance policies and 5% of personal lines insurance policies annually. Certain workers' compensation policies are excluded from this percentage for the first three years. The bill also revises the composition of the Florida Workers' Compensation Insurance Guaranty Association board, increasing its size and altering the appointment process. Effective July 1, 2026.