Florida Office of Insurance Regulation Publishes 2013 Workers’ Compensation Annual Report
Dec 30, 2013
The Florida Office of Insurance Regulation (“OIR”) published its 2013 Workers’ Compensation Annual Report (“Report”) and issued a copy to the Florida Legislature today, December 30, 2013. The 27-page Report, which evaluates competition in Florida’s workers’ compensation market, can be viewed by clicking here.
The OIR’s analysis of 2012 data contained in the Report found that, of the six most populous states, Florida is one of two where private insurers dominate the market. It was also found that Florida ranks fourth nationally with over $2 billion in workers’ compensation written premium.
In conclusion, the OIR determined that Florida’s workers’ compensation market is not overly concentrated and remains competitive.
The Report was completed pursuant to Section 627.096, Florida Statutes, which requires the OIR to investigate and study the data, statistics, schedules or other information as it deems necessary to assist in its review of workers’ compensation rate filings.
For more information from the OIR on workers’ compensation in Florida, visit the agency’s Workers’ Compensation Web page or click here to access workers’ compensation annual reports from 2004 through 2012.
Should you have any questions or comments, please contact Colodny Fass& Webb.
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