Jason Delgado
Chief Financial Officer Jimmy Patronis announced Tuesday refunds totaling $27.6 million in workforce premiums to roughly 13,000 policyholders with the Florida Workers’ Compensation Joint Underwriting Association.
“Today’s announcement that over $27 million is going back to thousands of policy holders is a great example of how our businesses can benefit when government operates efficiently and is accountable to its customers,” Patronis said. “This is how the system is supposed to work. With COVID-19 and the corresponding government shutdowns impacting many Florida businesses’ bottom lines, we’re working at every level of state government to identify areas where we can help our employers re-open and get back to work.”
The Florida Legislature created the FWCJUA in 1993 as a self-funding plan to offer workers’ compensation and employer’s liability insurance to employers who are required by law to maintain such insurance but are unable to purchase insurance through the voluntary market.
The $26.7 million refund compliments a recently authorized a $6.4 million policyholder refund for the 2013 policy year. An additional $21.2 million refund was also awarded to certain policyholders for the years 2001 to 2007 and 2012.
The FWCJUA is supervised by a nine member Board of Governors, eight of whom are appointed by the Financial Services Commission. The ninth member is appointed by Patronis and serves as the Insurance Consumer Advocate.
More information about the FWCJUA can be found online.
