Florida law says workers’ compensation insurers are required to return profits in excess of five percent. Seems so low but we are talking about companies that bring in millions of dollars in premiums on a yearly basis.
The five companies ordered to return premiums include:
- ACIG Insurance Company ($45,100)
- Alaska National Insurance Company ($329,577)
- Fairmont Specialty Insurance Company ($127,581)
- Harco National Insurance Company ($242)
- Pennsylvania National Mutual Casualty Insurance Company ($146,863).
The companies will have sixty days to refund the premiums or issue policy renewal credits.
