Workers compensation marketplace in Florida retails solid standing

Workers Compensation Insurance

The state’s insurance for injured employees remains strong despite weakness in other parts of the country. The annual report providing data on the condition of the workers compensation insurance marketplace in Florida has now been released, and it has shown that the market in that state is still holding strong and is maintaining its competitive status. This report was initially released on Wednesday to provide insight into this marketplace. It was issued by the Office of Insurance Regulation in the state. That office pointed out that the premiums that employers…

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Florida to join the Interstate insurance Product Compact

Florida may be the latest state to join the Interstate Insurance Product Compact, a program established in 2006 in order to improve consumer protection and hasten the accreditation process for new insurance products. Currently, 41 states have joined the program, all of which have adopted universal standards regarding application procedures concerning life insurance and long-term disability coverage products. The program does not account for health insurance, but Florida legislators may seek to include these products into the program if the state joins. The Insurance Product Regulation Commission, a multi-state agency…

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