This bill amends sections of Florida Statutes related to workers' compensation insurance. It specifies that insurers may use excess rates only under certain conditions, allowing for a maximum of 20 percent of their workers' compensation insurance policies to be written or renewed with excess rates each calendar year. Additionally, it clarifies that certain policies, such as those written for employers who were previously covered under a joint underwriting plan, will be excluded from this limitation for the first three years of coverage.

The bill also revises the composition of the board of directors for the Florida Workers Compensation Insurance Guaranty Association, reducing the number of board members from 11 to 9. The new structure includes specific appointments from private carriers, a statewide trade association representing Florida employers, and a property and casualty insurance agents association. The Chief Financial Officer will have the authority to appoint members with experience in workers' compensation insurance, and the bill establishes that board members will serve four-year terms. The act is set to take effect on July 1, 2026.

Statutes affected:
S 618 Filed: 627.171, 631.912