The Florida Senate

627.914  Reports of information by workers' compensation insurers required.--

(1)  The department shall promulgate rules and statistical plans which shall thereafter be used by each insurer in the recording and reporting of loss, expense, and claims experience, in order that the experience of all insurers and self-insurers may be made available at least annually in such form and detail as may be necessary to aid the department in determining whether Florida experience for workers' compensation insurance is sufficient for establishing rates.

(2)  Any insurer authorized to write a policy of workers' compensation insurance shall transmit the following information to the department each year with its annual report, and such information shall be reported on a net basis with respect to reinsurance for nationwide experience and on a direct basis for Florida experience:

(a)  Premiums written;

(b)  Premiums earned;

(c)  Dividends paid or credited to policyholders;

(d)  Losses paid;

(e)  Allocated loss adjustment expenses;

(f)  The ratio of allocated loss adjustment expenses to losses paid;

(g)  Unallocated loss adjustment expenses;

(h)  The ratio of unallocated loss adjustment expenses to losses paid;

(i)  The total of losses paid and unallocated and allocated loss adjustment expenses;

(j)  The ratio of losses paid and unallocated and allocated loss adjustment expenses to premiums earned;

(k)  The number of claims outstanding as of December 31 of each year;

(l)  The total amount of losses unpaid as of December 31 of each year;

(m)  The total amount of allocated and unallocated loss adjustment expenses unpaid as of December 31 of each year; and

(n)  The total of losses paid and allocated loss adjustment expenses and unallocated loss adjustment expenses, plus the total of losses unpaid as of December 31 of each year and loss adjustment expenses unpaid as of December 31 of each year.

(3)  A report of the information required in subsection (2) shall be filed no later than April 1 of each year and shall include the information for the preceding year ending December 31. All reports shall be on a calendar-accident year basis, and each calendar-accident year shall be reported at eight stages of development.

(4)  Each insurer authorized to write a policy of workers' compensation insurance shall transmit the information for paragraphs (a), (b), (d), and (e) annually on both Florida experience and nationwide experience separately:

(a)  Payrolls by classification.

(b)  Manual premiums by classification.

(c)  Standard premiums by classification.

(d)  Losses by classification and injury type.

(e)  Expenses.

A report of this information shall be filed no later than April 1 of each year. All reports shall be filed in accordance with standard reporting procedures for insurers, which procedures have received approval by the department, and shall contain data for the most recent policy period available. A rating organization may be used by insurers to report the data required by this section. The rating organization shall report each data element in the aggregate only for insurers required to report under this section who elect to have the rating organization report on their behalf. Such insurers shall be named in the report.

(5)  Self-insurers authorized to transact workers' compensation insurance as provided in s. 440.02 shall report only Florida data as prescribed in paragraphs (a) through (e) of subsection (4) to the Division of Workers' Compensation of the Department of Labor and Employment Security.

(a)  The Division of Workers' Compensation shall publish the dates and forms necessary to enable self-insurers to comply with this section.

(b)  The Division of Workers' Compensation shall report the information collected under this section to the Department of Insurance in a manner prescribed by the department.

(c)  A statistical or rating organization may be used by self-insurers for the purposes of reporting the data required by this section and calculating experience ratings.

(6)  The department shall provide a summary of information provided pursuant to subsections (2) and (4) in its annual report.

History.--s. 19, ch. 78-300; s. 81, ch. 79-40; s. 2, ch. 81-318; ss. 621, 625, 809(2nd), ch. 82-243; s. 79, ch. 82-386; s. 120, ch. 83-216; s. 25, ch. 83-288; s. 114, ch. 92-318; s. 67, ch. 99-5.

Note.--Former s. 624.435.