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Amid the general economic gloom nationwide, the Florida Office of Insurance Regulation (OIR) offered some welcome news. In its recently released annual report, which covers calendar year 2008, Florida’s OIR declared the state’s workers’ compensation market “competitive” and heralded the success of legislative reforms enacted in 2003. The entire report is available at http://www.floir.com/pdf/WCAnnualRptCY2008.pdf.

The purpose of the mandated report, as dictated by Florida Statute 627.211, is “to aid the Legislature in determining whether changes to the workers’ compensation rating laws are warranted.” The study comes just weeks before Florida’s 2010 legislative session, which begins March 2 and is scheduled to adjourn May 7. The report contains — again, as dictated by statute — “an analysis of the availability and affordability of workers’ compensation coverage and whether the current market structure, conduct, and performance are conducive to competition, based upon economic analysis and tests.”

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