AAI Praising Fla. House Passage of Workers’ Comp Reform
The Alliance of American Insurers (AAI) said it is pleased with today’s passage of a workers’ compensation reform bill by the Florida House.
“The bill, HB 1837, is an outstanding work product that will result in substantial cost savings because it contains substantially all of the reform elements recommended by the Coalition of Business and Insurance Industry, of which the Alliance is a major participant,” William Stander, government affairs representative for the Alliance’s Southeast Region, commented. “It is now up to the Florida Senate to take up this legislation and enact it before the session ends May 2.”
NCCI reportedly estimates that the bill will decrease costs by 14.2 percent, equaling a $425 million savings in system costs, plus an additional 4 percent or more savings attributable to the contractor exemptions.
Reform elements recommended by the Coalition were:
·Limits on hourly attorney fees to medical-only cases;
·Reductions of hospital fee schedules;
·Increased fraud penalties;
·Further restrictions on exemptions from workers’ compensation coverage; and
Elimination of other inappropriate cost increase provisions.
- Warren Buffett’s PacifiCorp Now Faces $30 Billion Fire Claim Demand
- Growing Progressive Set to Hire 10,000 for Claims, IT, Other Roles
- 4,800 Claims Handled by Unlicensed Adjusters in Florida After Irma, Lawsuit Says
- Florida’s Home Insurance Industry May Be Worse Than Anyone Realizes
- CoreLogic Report Probes Evolving Severe Convective Storm Risk Landscape
- Work Safety Group Releases List of ‘Dirty Dozen’ Employers
- Poll: Consumers OK with AI in P/C Insurance, but Not So Much for Claims and Underwriting
- Millions of Recalled Hyundai and Kia Vehicles, With Dangerous Defect, Remain on Road