Florida Office of Insurance Regulation: Workers’ Compensation Excessive Profits Reporting Form (OIR-B1-15) Not Required Under CS/HB 941
May 9, 2012
The Florida Office of Insurance Regulation issued an Informational Memorandum today, May 9, 2012, advising insurers that the Workers’ Compensation Excessive Profits Reporting Form (Form OIR-B1-15) is not required to be filed this year due to changes under CS/HB 941, which was signed last week by Governor Rick Scott.
The Informational Memorandum is reprinted below and attached in PDF format.
Should you have any questions or comments, please contact Colodny Fass.
INFORMATIONAL MEMORANDUM
OIR-12-03M
ISSUED
May 9, 2012
Florida Office of Insurance Regulation
Kevin M. McCarty, Commissioner
To Workers Compensation Insurers in the State of Florida
The purpose of this memorandum is to advise insurers on changes to the Workers’ Compensation Excessive Profits Reporting Form due to House Bill 941.
On May 4, 2012, Governor Scott signed House Bill 941. One of the major statutory changes encompassed in this bill is the removal of the reporting requirements for workers’ compensation insurance from Section 627.215, Florida Statutes. As such, workers’ compensation insurers will not be required to file Form OIR-B1-15, Florida’s Workers’ Compensation Excessive Profits Reporting Form, with the Office this year. This will not affect excess profits filed for prior years.
If you have any questions regarding the content of this Memorandum, please contact Chris Briggs, Actuarial Analyst of Property and Casualty Product Review, Florida Office of Insurance Regulation at Christopher.Briggs@floir.com or (850) 413-5372.
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