August 7, 2007          

From the Department of Financial Services         

PANAMA CITY-Florida Chief Financial Officer Alex Sink today commended
state workers' compensation compliance investigators who conducted a
recent sweep of 177 businesses in two Panhandle counties that resulted
in 23 Stop Work Orders against employers found to be operating without
the required coverage. 

The sweep was conducted by the Department of Financial Services'
Division of Workers Compensation, Bureau of Compliance (District 1A).
Two examiners and 13 investigators executed the sweep between July 23
and July 26 in South Walton County and the Panama City/Panama City Beach
area.  Seven of the checks were conducted on a military installation
with a federal investigator attending and observing.

"Our investigators are tenacious about protecting workers by ensuring
employers are complying with the law," said CFO Sink, who oversees the
department.  "Because of our aggressive investigations and tougher laws,
compliance is increasing.  Employers are becoming more aware of their
responsibilities and that if they fail to obtain workers' compensation
coverage, they will be caught." 

During the last fiscal year, District 1A led the state's seven districts
with a total of 546 Stop Work Orders and also led the state with the
amount of premium generated - more than $3.2 million - as a result of
employers coming into compliance and obtaining workers' compensation
coverage.  District 1A was second in the state with the number of new
employees - 1,054 - coming into compliance as well as the total amount
of penalties the district assessed, which came to more than $15.6
million.

Employers are enjoying a cumulative 40-percent drop in premiums,
carriers have seen Workers' Compensation Administration Trust Fund
assessments plummet from 2.57 percent to .25 percent beginning in
January, and Florida has experienced overall premium growth with 28 new
carriers writing workers' compensation coverage in Florida.

"A strong economy and tougher compliance efforts have produced these
solid results," said CFO Sink.  "More importantly, more workers are
getting the protection they deserve."