Florida Workers Compensation Joint Underwriting Association Board of Governors April 12 Meeting Recap
Apr 16, 2007
The Florida Workers Compensation Joint Underwriting Association (“FWCJUA”) Board of Governors met on April 12, 2007 to hear a legislative update, consider an offer to commute a reinsurance contract, and discuss confirmation of the FWCJUA’s reinsurance intermediary.
With respect to the legislative update, it was reported that the FWCJUA has four bills (SB 1894, HB 1429, SB 628 and SB 227) making their way through the legislative process, with SB 1894 and HB 1429 being the substantive bills comprising three main issues:
- whether the FWCJUA would be permitted to hire outside lobbyists
- fine-tuning one of the bills to which minor ethical issues were raised
- extending assessment authority for certain tiers within the FWCJUA and extending the sunset language related thereto
The FWCJUA’s substantive Senate bill (SB 1994) was passed by the General Government Appropriations Committee on Friday, April 13. It now must proceed through the Senate’s Rules Committee, but has not yet been calendared.
The FWCJUA’s substantive House bill (HB 1429) passed the House Jobs & Entrepreneurship Council on Thursday, April 14. It now must proceed through the House Policy & Budget Council, but has not yet been calendared.
The Board voted to accept the commutation offer (Attachment C on page four of the attached Agenda) and has to continue its relationship with its current reinsurance intermediary, renewing the contract on a monthly basis until after the new Board members are seated in July, 2007.
A copy of the April 12 FWCJUA Board meeting agenda is attached. Should you have any questions or concerns, please do not hesitate to contact this office.