Florida Senate - 2019 SB 264 By Senator Gruters 23-00407-19 2019264__ 1 A bill to be entitled 2 An act relating to the Florida Workers’ Compensation 3 Joint Underwriting Association; amending s. 627.311, 4 F.S.; providing that certain dividends or premium 5 refunds must be retained by the association’s joint 6 underwriting plan of insurers for future use; 7 providing an effective date. 8 9 Be It Enacted by the Legislature of the State of Florida: 10 11 Section 1. Paragraph (h) of subsection (5) of section 12 627.311, Florida Statutes, is amended to read: 13 627.311 Joint underwriters and joint reinsurers; public 14 records and public meetings exemptions.— 15 (5) 16 (h)1. Any premium or assessments collected by the plan in 17 excess of the amount necessary to fund projected ultimate 18 incurred losses and expenses of the plan and not paid to 19 insureds of the plan in conjunction with loss prevention or 20 dividend programs must
shallbe retained by the plan for future 21 use. 22 2. Any state funds received by the plan in excess of the 23 amount necessary to fund deficits in subplan D or any tier must 24 shallbe returned to the state. 25 3. Any dividend or premium refund that cannot be paid to a 26 former insured of the plan because the former insured cannot be 27 reasonably located must be retained by the plan for future use. 28 Section 2. This act shall take effect upon becoming a law.