Florida Workers’ Compensation Joint Underwriting Association Board of Governors Approves Overall Average Premium Level Decrease of 9.7 Percent For New and Renewal Business Effective January 1, 2012
Sep 27, 2011
The Florida Workers’ Compensation Joint Underwriting Association (“FWCJUA”) Board of Governors (“Board”) met today, September 27, 2011, in Sarasota, Florida, during which it unanimously approved a 9.7 percent overall average premium decrease for new and renewal business.
The decrease, which will be effective January 1, 2012, will be adjusted to reflect any approved voluntary market rate level and class relativity changes that may become effective January 1.
Other unanimous actions taken by the Board at today’s meeting included:
- Retention of the current Board Vice Chair/Vice President, Secretary, Treasurer and Assistant Secretary for another term;
- Re-confirmation of the continued holding of the two Lehman Brothers bonds and the CitiGroup bond within the FWCJUA’s portfolio as authorized Investment Policy exceptions;
- Extension of RSM McGladrey’s engagement for a 2012 information technology network security audit, for a fee of $7,500;
- Adoption of proposed revisions to the FWCJUA Records Management and Retention Policy, effective today.
The Board is next scheduled to meet on December 6, 2011, via teleconference.
Should you have any questions or comments, please feel free to contact Colodny Fass.
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