JUA Surplus Reaches $83.7 Million

The Florida Workers' Compensation Joint Underwriting Association (FWCJUA) reported Thursday that its surplus reached $83.7 million at the end of 2009.In a bulletin to the state-run residual carrier's board of governors, FWCJUA said the only individual rating plan in its portfolio to show a deficit is Subplan D.The carrier closed its subplans in 2004 and replaced them with a three-tiered rating system. Because it was obligated to pay  federal income taxes on its growing surpluses, FWCJUA converted to a nonprofit, state-run carrier in 2007.Subplan D once covered the state's high...