Bill > S0618

This bill modifies Florida law regarding workers' compensation insurance by specifying that insurers can only use excess rates, meaning rates higher than standard, under certain conditions, allowing them to use these higher rates for up to 20% of their workers' compensation policies each year, with specific exclusions for employers previously in a joint underwriting plan, and also revises the composition of the board of directors for the Florida Workers' Compensation Insurance Guaranty Association, which is an organization that helps protect policyholders if an insurance company becomes insolvent, by adding a nominee from a statewide employer trade association and a nominee from a major insurance agents association, while removing self-insurance fund representatives, and the bill takes effect on July 1, 2026.

Budget and Finance

Banking and Insurance (Senate)

https://www.flsenate.gov/Session/Bill/2026/618