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6 Fla. Workers' Comp Cos. Ordered to Refund 'Excess' Profits

Southeast News • February 20, 2008
Florida Insurance Commissioner Kevin McCarty has ordered six workers' compensation insurance companies to return $4.2 million in what his agency says are excessive profits to their ...

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Subject: Refund allocation to policyholder

Posted On: February 20, 2008, 12:28 pm CST
Posted By: dot_hemath
Comment:
"The excessive amount shall be refunded on a pro rata basis in relation to the final compilation year earned premiums to the policyholders of record of the insurer group on December 31 of the final compilation year."

So if a policyholder had a loss, even a bad one, they still get a refund as long as their carrier made (excessive) profits. No one complains about this because the only ones getting hurt are getting refunds, just that they're not as large as they should be.
Subject Posted By Posted On
RE: RE: RE: Excess Profits TAR
Feb 22, 2008, 7:32 am
RE: RE: Excess Profits Ratemaker
Feb 22, 2008, 7:13 am
RE: America or Cuba? Shared Misery
Feb 21, 2008, 10:15 am
RE: Can you have excess profits? Stat Guy
Feb 21, 2008, 9:10 am
RE: Excess Profits joe
Feb 20, 2008, 4:54 pm
Excess Profits Larry Napoletano
Feb 20, 2008, 3:24 pm
Can you have excess profits? lastbat
Feb 20, 2008, 3:15 pm
America or Cuba? Vlad
Feb 20, 2008, 2:26 pm
RE: Excess Profits - Let's apply this to ALL forms of Bus. Derivatives101
Feb 20, 2008, 1:08 pm
RE: RE: RE: Excess Profits Tar
Feb 20, 2008, 12:50 pm
RE: RE: Excess Profits Key West Agent
Feb 20, 2008, 12:46 pm
RE: Excess Profits CT
Feb 20, 2008, 12:40 pm
Refund allocation to policyholder dot_hemath
Feb 20, 2008, 12:28 pm
Excess Profits Karen
Feb 20, 2008, 11:42 am
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