Florida Office of Insurance Regulation Addresses Workers’ Compensation, Liability Insurers’ Use of Unfiled Side Agreements
May 24, 2016
In Informational Bulletin OIR-16-03M issued today, May 24, 2015, Florida Insurance Commissioner David Altmaier addressed the use of unfiled side agreements in conjunction with workers’ compensation and employer’s liability insurance policies applicable to risks and exposures in Florida, explaining that the Florida Office of Insurance Regulation (“OIR”) has become aware that some insurance companies are entering into these types of activities.
The OIR is reminding all workers’ compensation insurers authorized to transact insurance in Florida that these side agreements sometimes alter the rules, rates, rating plans, forms, or endorsements that were approved by the agency for use. The OIR uses the Bulletin to remind insurers of pertinent Florida Statutes and Florida Administrative Code Rules governing workers’ compensation and employer’s liability insurances.
To read the complete Bulletin, click here.
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