Category: Florida Office of Insurance Regulation

  The Florida Office of Insurance Regulation (“OIR”) advised today, October 26, 2015, that it has completed its Catastrophe Stress Test to review the adequacy of reinsurance, capital and surplus of Florida-based property insurance companies. Now in its third year, …

  Revisions to Florida’s insurance holding company laws will be the primary focus for the Florida Office of Insurance Regulation’s 2015-2016 Fiscal Year, the agency reported in its Regulatory Plan (“Plan”) published on October 1, 2015. Additional scheduled rulemaking activities …

  Florida Insurance Commissioner Kevin McCarty sent a letter to Federal Emergency Management Agency (“FEMA”) Administrator Craig Fugate today, October 2, 2015, asking him to work collaboratively with the Florida Office of Insurance Regulation (“OIR”) by providing specific information on …

Florida Insurance Commissioner Kevin McCarty (Photo Credit–Sun-Sentinel)   Florida Insurance Commissioner Kevin McCarty is being recognized by the Florida Association for Insurance Reform (“FAIR”) at its third annual awards dinner in North Miami tomorrow night, September 17, 2015. FAIR is …

Above:  Colodny Fass’ Donovan Brown Notes Florida Insurance Commissioner Kevin McCarty’s Response to Senator Jeff Brandes on National Flood Insurance Program Rates   Rates paid by National Flood Insurance Program policyholders in Florida are unfairly discriminatory, Florida Insurance Commissioner Kevin …

Above:  Colodny Fass Insurance Lawyer Sharlee Hobbs Edwards Notes Mediation Rules for Both Commercial Residential and Residential Florida Property Insurance Claims Proposed for Revision   Specifics of the mediation process for commercial residential, as well as residential property insurance claims …

  Revisions to two Rules relating to National Association of Insurance Commissioners (“NAIC”)-prescribed procedures adopted by the Florida Office of Insurance Regulation (“OIR”) became effective yesterday, July 28, 2015.  Following are the Rules and a summary of changes to each: …

  Above:  Colodny Fass’ Claude Mueller Notes Substantial Changes to Florida’s Reinsurance Collateral Rules Became Effective Today   Substantial amendments to Rules 69O-144.005, entitled “Credit for Reinsurance” and 69O-144.007, “Credit for Reinsurance From Eligible Reinsurers,” became effective today, July 28, …

  Rulemaking relating to insurance holding companies and acquisitions of entities regulated by the Florida Insurance Code has been initiated by the Florida Office of Insurance Regulation (“OIR”). The following proposed Rules will be addressed:   69O-143.046 Registration of Insurers 69O-143.047 Standards …

Above:  Colodny Fass Partner Megan Grant Notes Florida Property Insurance Claims Mediation Program Rulemaking Continues   After a Rule Development Workshop held earlier this year, substantial changes have now been proposed for Rule 69O-166.031 entitled “Mediation of Property Insurance Claims.”  …