Florida Insurance Commissioner Kevin McCarty has ordered 16 workers' compensation insurance companies or groups to return a total of over $9.4 million in excessive profits to their policyholders.

Workers' compensation insurers are required to return excess profits pursuant to Section 627.215, Florida Statutes. McCarty's office recently performed an evaluation of submitted data that included earned premium and incurred losses. The office determined that 16 different workers' compensation insurance companies or groups realized excess profit as defined by statute for the 2005, 2006 and 2007 calendar/accident years.

The 16 companies that have been ordered to return premiums include: American Interstate Insurance Co. ($867,843), Florists' Insurance Group ($83,131), Guard Insurance Group ($835,474), Hanover Insurance Group ($6,140), Harco National Insurance Co. ($4,530), Indiana Lumbermen's Mutual Insurance Co. ($913), the Liberty Mutual Insurance Companies ($1,071,841), MAG Mutual Insurance Co. ($132,618), Memic Indemnity, Co. ($17,097), One Beacon Insurance Group ($733,028), Safety National Group ($136,512), St. Paul Travelers Group ($5,291,320), State Auto Mutual Group ($11,293), Transguard Insurance Company of America ($187,118), Ullico Casualty Co. ($29,927), and the Westfield Companies ($12,859).