Florida JUA Reduces Rates For Tiers 1 and 3

The Florida Workers' Compensation Joint Underwriting Association (FWCJUA) reduced rates in its Tier 1 and 3 program but boosted rates by 18.5% in Tier 2. The JUA posted the rates, effective Jan. 1, with the state Office of Insurance Regulation (OIR). The state's residual carrier posts rates with Florida regulators on a "use-and-file" basis. Insurance Commissioner Kevin McCarty has not challenged the rate filing, which drops average rates in Tier 1 by 5.6% and in Tier 3 by 21.4%. OIR spokesman Bob Lotane said Tuesday the agency can only disapprove rates on a prospective basis with 60 d...