Florida S0618 amends workers' compensation insurance regulations, limiting excess rates and revising the Florida Workers' Compensation Insurance.

Florida S0618 modifies the use of excess rates for workers' compensation insurance, allowing insurers to apply such rates to no more than 20% of their policies annually. It also revises the composition of the Florida Workers' Compensation Insurance Guaranty Association's board of directors, specifying the roles of various stakeholders, including the insurance consumer advocate, private carriers, and the Chief Financial Officer. The bill aims to ensure a balanced representation in the board while maintaining oversight and expertise in workers' compensation insurance.

Florida S0618 amends workers' compensation insurance regulations, limiting excess rates and revising the Florida Workers' Compensation Insurance.

Florida S0618 modifies the use of excess rates for workers' compensation insurance, allowing insurers to apply such rates to no more than 20% of their policies annually. It also revises the composition of the Florida Workers' Compensation Insurance Guaranty Association's board of directors, specifying the roles of various stakeholders, including the insurance consumer advocate, private carriers, and the Chief Financial Officer. The bill aims to ensure a balanced representation in the board while maintaining oversight and expertise in workers' compensation insurance.