Category: Florida News
May 24, 2016
Citizens Slashes Reinsurance Limit Florida Citizens Property Insurance plans to reduce its reinsurance cover in place for the 2016 hurricane season by more than a third from last year, sapping demand in the Sunshine State. Regulators, State Farm …
May 23, 2016
The Florida Office of Insurance Regulation (“OIR”) advised today, May 23, 2016, that it has filed a Notice of Appeal in a Second Judicial Circuit Court case involving State Farm Florida Insurance Company and the question of whether insurance …
May 22, 2016
Florida Hurricane Catastrophe Fund Publishes Participating Insurers Workshop Materials The Florida Hurricane Catastrophe Fund published presentations and materials today from its recent Participating Insurers’ Workshop Florida Construction Company Owner Nabbed in Workers’ Comp Fraud Scheme The owner of …
May 20, 2016
Is Broward Ready for a Hurricane Hit? Drill Shows How Rescue Would Work Broward County conducted a full-scale hurricane drill at the Emergency Operations Center in Plantation to prepare for the June 1 opening of hurricane season, the Sun-Sentinel’s …
May 19, 2016
Florida’s Private Flood Insurance Market More Buoyant Private insurers are slowly entering the Florida flood insurance market. Assurant Inc. will begin offering policies covering up to $800,000 in flood damage for Florida homes in at-risk areas, the Sun-Sentinel reports …
May 18, 2016
No-Fault Insurance: Florida Studies Killing it in $125,000 Report State officials are cranking up a $125,000 study due September 2 on the possibility of junking Florida’s no-fault car insurance system after four decades, the Palm Beach Post’s Charles Elmore …
May 17, 2016
Regulations for the Florida Hurricane Catastrophe Fund 2016-2017 Reimbursement Premium Formula take effect tomorrow, May 18, 2016. In accordance with Section 215.555(5), Florida Statutes, the amended Rule 19-8.028, F.A.C., entitled “Reimbursement Premium Formula,” makes editorial and grammatical revisions from …
May 17, 2016
Recently adopted by the Florida Office of Insurance Regulation, the following Rules relating to insurance holding companies become effective on May 31, 2016: 69O-143.046 Registration of Insurers 69O-143.047 Standards 69O-143.056 Acquisition of Controlling Stock The new Rules implement recent …
May 17, 2016
Assurant to Offer Private Flood Insurance in Florida The new Assurant Primary Flood Insurance offers structural coverage up to $800,000 and up to $250,000 in contents coverage, Insurance Journal reports. Florida Surplus Lines Service Office Asking Agencies To …
May 16, 2016
State Farm Secrecy Ruling Baffles Advocates, Company Stops Talking Consumer advocates are scratching their heads over a Florida judge’s ruling that would let State Farm — and potentially every other property insurer in the state — hide information that …