Category: Florida Office of Insurance Regulation
Feb 20, 2010
The Demotech, Inc. rating of HomeWise Preferred Insurance Company was withdrawn yesterday after it filed a notice of intent to discontinue writing one or more lines of insurance and related notice of anticipated nonrenewals with the Florida Office of Insurance Regulation. Demotech’s rating …
Feb 16, 2010
By Sandy P. Fay, AssociateColodny Fass Citing the recent failure of a number of banking institutions, the Florida Office of Insurance Regulation has sent notices to insurers suggesting that they review their checking, savings, trust and certificate of deposit …
Jan 25, 2010
Based on a Joint Motion filed by FFVA Mutual Insurance Company (“FFVA”) and the Florida Office of Insurance Regulation (“OIR”) with the Florida Division of Administrative Hearings (“DOAH”) on January 21, 2010, the OIR has agreed to initiate rulemaking relating …
Jan 8, 2010
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 in …
Jan 4, 2010
The Florida Office of Insurance Regulation recently finalized the following Rules (to view information on a Rule, click on a hyperlink below): NoticeID Section /Rule No. Summary / Purpose / Subject / Rule Title Notice /Adopted PublishDate 8103979 …
Dec 30, 2009
The following final Rules relating to financial reporting requirements for insurers recently were adopted by the Florida Office of Insurance Regulation and will become effective on January 4, 2010 (to view the full text of a Rule, click on a …
Dec 29, 2009
The Florida Office of Insurance Regulation (“OIR”) announced today, December 29, 2009, that it has entered into consent agreements with two insurers who violated Florida’s Military Sales Practices Rule by selling non-compliant Flexible Dollar Builder Life Insurance Policies to active …
Dec 24, 2009
Magnolia Insurance Company, a Florida property and casualty insurer, was placed under non-confidential administrative supervision by the Florida Office of Insurance Regulation (“OIR”) on December 14, 2009. The initial period of supervision is 120 days, which may be extended by the …
Dec 22, 2009
In two separate announcements issued today, December 22, 2009, the Florida Office of Insurance Regulation (“OIR”) ordered a motor vehicle warranty company, as well as a health insurer and both of their respective affiliates to cease and desist transacting the …
Dec 21, 2009
The Florida Office of Insurance Regulation (“OIR”) held a hearing today, December 21, 2009, to further discuss proposed amendments to Rule 69O-170.0155 regarding forms relating to insurance premium discounts for hurricane loss mitigation. The amendments would revise Form OIR-B1-1655, entitled “Notice …