The FWCJUA annually reviews its rates, using NCCI's voluntary market filing, as approved by the Office of Insurance Regulation, as its starting point.
Premiums paid by FWCJUA policyholders differ by rating tier.
Tier One employers, who pay the lowest FWCJUA rates, typically include employers who are relatively good risks but are unable to find voluntary market coverage because of their small size or the types of businesses they operate.
Relatively new employers who do not have three years of loss experience will qualify for Tier Two if they had no lost time claims for the three-year period immediately preceding the inception or renewal date of FWCJUA coverage and their medical-only claims during the same three-year period did not exceed 20 percent of premium.
The FWCJUA has 826 policies in-force, with a corresponding written premium of $5,711,536.
The FWCJUA currently contracts with 696 agencies and 1,138 producers.