Jeb Bush Vetoes FWCJUA Reorganization

Florida Gov. Jeb Bush has vetoed a provision of the state's new $73.9 billion budget that would have reorganized the Florida Workers' Compensation Joint Underwriting Association and was expected to trigger rate hikes by reinsurers. JUA Executive Director Laura Torrence said Wednesday that Bush's veto of a $7.9 million appropriation to help retire a deficit in the association's former subplan D erased with it all of the implementing language. That language would have scrapped the current nine-member governing board of the JUA, given the state's Office of Insurance Regulation the power to revie...