Category: Florida Office of Insurance Regulation

Cease and desist orders for selling unauthorized surety insurance were issued to two separate companies today, April 9, 2010, by the Florida Office of Insurance Regulation (“OIR”). An OIR press release that includes hyperlinks to the orders is reprinted below.   Should you have …

  In a letter today, April 7, 2010, Florida Insurance Commissioner Kevin McCarty notified Florida Chief Financial Officer Alex Sink that Northern Capital Insurance Company is insolvent.  He also indicated that liquidation of the company appears to be a strong …

On April 1, 2010, the Florida Office of Insurance Regulation (“OIR”) issued an Order amending certain previously issued Consent Orders with respect to insurers’ obligations when assuming policies from Citizens Property Insurance Corporation (“Citizens”).  Specifically, all Consent Orders relating to …

At the request of Florida Chief Financial Officer Alex Sink, Florida Insurance Commissioner Kevin McCarty is scheduled to report on the status of the State’s property insurance market at the March 23 meeting of the Florida Cabinet.  Commissioner McCarty will …

REMINDER:  Insurers seeking limited apportionment company (“LAC”) status for 2010 must petition the Florida Office of Insurance Regulation (“OIR”) within the first 90 days of 2010.  Applications received after this deadline will not be considered. Companies that had LAC status …

  On February 15, 2010, Safety-Net Hospital Alternative Risk Pool, LLC (“Safety-Net”) filed a petition for a declaratory statement with the Florida Office of Insurance Regulation (“OIR”) seeking to determine whether hospital alliances formed for the purpose of securing property …

  The Florida Office of Insurance Regulation (“OIR”) held a public rate hearing today, March 2, 2010, on ACA Home Insurance Corporation’s (“ACA”) proposed homeowners rate filing, in which a 20.5 percent overall rate increase for new and renewal business …

  A fourth annual report to Florida legislative leadership that documents circumstances under which the refusal of life insurance or the refusal to continue existing life insurance based on past or future lawful travel constituted an unfair trade practice was …

The Florida Office of Insurance Regulation announced that it has finalized the first agreement of its kind with German reinsurer Hannover Ruckversicherung AG (Hannover Re), which now qualifies as Florida’s first reinsurer to capitalize on a new Florida law that reduces collateral …

Pursuant to an administrative proceeding brought by FFVA Mutual Insurance Company (“FFVA”), the Florida Office of Insurance Regulation (“OIR”) held a public Rule Development Workshop today, February 22, 2010, on Rule 690-189.007, F.A.C. relating to Insurer Experience Reporting-Excessive Profits, Workers’ …