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Workers Compensation JUA Announces Financial Crisis

By: Thomas M Kallman

Due to the current market situation regarding workers compensation availability in the State of Florida, many business owners find their current work comp coverage being cancelled and have been faced with the option of purchasing alternative coverage through the Florida Work Comp JUA which is an accessible fund of last resort.

Recently that fund announced an incredible shortfall of upwards of 35 million dollars due to claims uncovered by paid premiums which puts each and every policy holder in a position of being assessed their proportionate share to make up this deficit regardless of individual claim results.

Senate bill 2270 which has come from the Committee on Banking & Insurance as well as House Bill 1251 have been proposed to significantly revise the rules regarding the treatment of this deficit allowing for a one time appropriation to cover the existing negative balance in the fund so many business owners would not have to bail out the JUA. These bills also restructure the plan to allow for more equitable rates, which would reflect the good safety records of responsible employers.

As a business owner purchasing work comp coverage here in Florida you may have a choice to avoid allowing your coverage to be placed in the JUA and it would be advisable to elect other coverage if your Agent allows you that option. Be sure to ask your Agent if they can provide your company with any other choices and if you find that you have already been placed in the JUA, request other proposals at once. There are now a few new programs aimed at those employers who have demonstrated good safety records over a 1-3 year period but find themselves in this pool due to lack of alternative markets available to the agent.

The goal of your company should be to obtain coverage in a standard admitted Florida insurer , not in a self insured fund or the Florida JUA. If you are unsure as to the status of your current carrier or fund you can obtain financial ratings at or by visiting the Florida Department of Financial Services at

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