HB 1655 (2003) -  Workers' Compensation Insurance

by Berfield
Provides for startup funding for the Florida Employers Mutual Insurance Company, as created by the act; requires workers' compensation insurers to report cost data to the Department of Financial Services; requires insurance carriers to report medical claims data to the Department of Health; provides for the data to be used to determine trends and changes in health care costs associated with workers' compensation claims; requires the Chief Financial Officer to approve a plan for operating a residual market to guarantee insurance coverage for employers; provides for rates; provides for any deficit to be distributed through an assessment on insurance carriers that write workers' compensation insurance; requires the Chief Financial Officer to adopt rules; creates the Florida Employers Mutual Insurance Company Act; provides definitions; creates the Florida Employers Mutual Insurance Company to provide workers' compensation insurance and employer's liability coverage; provides for organization of the company as a not-for-profit corporation; provides for a board of directors of the company; provides for appointment of members and terms of office; provides membership qualifications; requires the board to hire an administrator; provides powers and duties; requires the administrator to give a bond; provides immunity from liability for official acts taken by a board member, officer, or employee; authorizes the board to establish insurance rates; requires the board to adopt an investment policy and supervise the investments of the company; authorizes insurance agents or brokers licensed in this state to sell workers' compensation insurance policies for the company; requires a workplace safety program for policyholders; prohibits the appropriation of state funds to the company; requires an annual audit of the books of the company; requires a report to the Governor and the Legislature; requires the administrator to submit a budget to the board; requires the Department of Financial Services to examine the company; provides definitions; prohibits discrimination in the payment of dividends; provides that it is an unfair trade practice to condition payment of a dividend upon renewal of a policy; prohibits certain agreements restraining trade; requires uniform rating plans; requires the Chief Financial Officer to conduct certain examinations of insurers; provides penalties; provides for a determination of a competitive market in the workers' compensation and employer's liability lines of business; requires the Chief Financial Officer to monitor the degree of competition; revises, provides, and deletes definitions; revises requirements relating to submitting notice of election of exemption and maintenance of records; revises provisions relating to failure to secure compensation; provides that a corporate officer electing to be exempt may not receive benefits under ch. 440, F.S.; provides for an increase in compensation if the employer knowingly refused or failed to provide a safety appliance or observe a safety rule; provides that certain limitations with respect to an employer's liability do not apply if the employer fails to secure coverage as required; revises the number of and period for certain medical services; revises the requirements for contesting a disallowance of payment; establishes certain maximum reimbursement allowances; provides that certain time limitations for temporary benefits are presumed sufficient; revises certain benefits for impairment; increases the amount of compensation for funeral expenses and for death; revises certain requirements for notice of injury or death; revises a limitation on the period for filing a petition for benefits; requires an application for coverage to include job descriptions for the employment for which the employer seeks coverage; requires that a sworn statement be included with certain audit documents; provides a penalty; requires the Division of Workers' Compensation to adopt rules for a model settlement agreement; deletes an exemption for the application of certain rate standards to workers' compensation or employer's liability insurance; deletes certain requirements for annual filings; deletes certain requirements with respect to setting rates for workers' compensation and employer's liability insurance; provides that certain data and other information submitted to the Workers' Compensation Rating Bureau is a public record; deletes requirements for rating organizations to provide certain information; repeals provisions relating to rate filings for workers' compensation and employer's liability insurance.
Effective Date: This act shall take effect July 1, 2003
Last Event: Died in Subcommittee on Health Access & Financing on Friday, May 2, 2003 6:15 PM

Referred Committees and Committee Actions

Related Bills

Staff Analysis

(None Available)

Vote History

(No Votes Recorded)

Bill History

Event Time Member Committee Ver.
Event: H Died in Subcommittee on Health Access & Financing Time: 05/02/2003 - 6:15 PM Member: Committee: Subcommittee on Health Access & Financing Version:
Event: H Bill referred to Insurance Time: 03/17/2003 - 1:58 PM Member: Committee: Insurance Version:
Event: H Bill referred to Subcommittee on Health Access & Financing Time: 03/17/2003 - 1:58 PM Member: Committee: Subcommittee on Health Access & Financing Version:
Event: H Read 1st time Time: 03/11/2003 - 2:12 PM Member: Committee: Version:
Event: H Filed timely Time: 03/10/2003 - 2:51 PM Member: Berfield Committee: Version: