JUA Approves Reorganization Road Map

The governing board of the Florida Workers' Compensation Joint Underwriting Association (FWCJUA) unanimously adopted a reorganization plan Tuesday, paving the way for the residual carrier's conversion to a tax-exempt entity. The board voted to approve the plan during a meeting at its Sarasota headquarters on the same day that Gov. Charlie Crist signed Senate Bill 1894, which mandates changes for the 14-year-old association effective July 1. The vote came after some changes were made in the complex formula by which the state's top 20 domestic and top 20 foreign insurers will nominate four mem...