The Florida Office of Insurance Regulation has sent the Legislature its 2009 annual report on the state of the workers' compensation market. While acknowledging that some business segments may have had trouble securing coverage, Commissioner Kevin McCarty said that overall, the market is doing well both in availability and pricing.
The report, which analyzed the availability and affordability of coverage for workers' compensation insurance in Florida for the calendar year 2008, concluded that the state's market is "competitive." Noting that there are 251 entities writing workers' compensation coverage in the state, the report said that of the six most populous states in the nation, Florida is "the largest market dominated by private market insurers, rather than a state sponsored residual market."
The entire report is available online at www.floir.com.
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