Florida’s Workers’ Compensation Administration Trust Fund Rate Set at 0.98 Percent for 2011
Jun 18, 2010
Pursuant to a Florida Department of Financial Services (“DFS”) order issued on June 17, 2010, the assessment rate for the Florida’s Workers’ Compensation Administration Trust Fund has been set at 0.98 percent beginning January 1, 2011.
The DFS has outlined this information in Informational Bulletin DFS-02-2010, which is addressed to all carriers and self-insurers, including each insurance company writing workers’ compensation insurance in the State of Florida; each group self-insurance fund under Section 624.4621, Florida Statutes; each commercial self-insurance fund under Section 624.462, Florida Statutes; each electric cooperative self-insurance fund under Section 624.4626, Florida Statutes; and each assessable mutual insurer under Section 628.6011, Florida Statutes.
To view the Informational Bulletin and assessment rate order, click here.
The Florida Workers’ Compensation Administration Trust Fund was established for the purpose of providing for the payment of all expenses in respect to the administration of Chapter 440, Florida Statutes. These expenses include the vocational rehabilitation of injured employees as provided in s. 440.49, the payments due under s. 440.15(1)(f), the funding of the fixed administrative expenses of the plan and the funding of the Bureau of Workers’ Compensation Fraud within the DFS.
Reminder: Effective July 1, 2010, the Florida Workers’ Compensation Special Disability Trust Fund assessment rate is being reduced to 1.46 percent (from 4.52 percent, where it has been since July 1994). The pertinent informational bulletin and assessment rate order are available by clicking here.
Should you have any questions or comments, please contact Colodny Fass.
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