Tallahassee, FL – The Property Casualty Insurers Association of America (PCI) recently issued the following statement attributed to its Regional Manager Logan McFaddin regarding the workers’ compensation update given by the Florida Senate Banking & Insurance Committee:
“The Senate Banking & Insurance Committee presentation reconfirms that we need a workers’ compensation system in Florida that employers and employees can rely on. Simply put, the current workers’ compensation system is broken, allowing trial lawyers to line their pockets while injured workers suffer and Florida employers struggle to compete.
“The Florida Appellate Court order is a good step for the Florida workers’ compensation system, as it brings more certainty and stability for employers and workers. We continue to support the 2003 Florida workers’ compensation reforms that were put in place to protect the interests of employees, as well as help control costs for business owners.
“This session, we must work with Florida lawmakers on solid solutions that will allow us to return to a marketplace where injured workers are protected and benefits can be provided at reasonable, affordable rates. PCI believes the Office of Insurance Regulation and NCCI will ultimately prevail in their appeals.”
Ed. Note: Click here to view the Presentation (PDF) from the FL Senate Banking & Insurance Committee.