JUA Reports $54.5 Million Surplus for Second Quarter

The Florida Workers' Compensation Joint Underwriting Association (FWCJUA) reported its surplus has increased to $54.5 million for the second quarter of 2007 as it prepares to apply for conversion to nonprofit status. FWCJUA said in its financial filing with the state Office of Insurance Regulation covering the period ended June 30, 2007, that the bulk of the surplus remains in Subplans A, B and C, which lawmakers retired several years ago to create a new three-tiered system of coverage for the residual market. Subplan D, which previously covered the association's highest-risk policyholde...