Category: Insurance Regulatory News

  The Florida Office of Insurance Regulation (“OIR”) has advised it will be updating two Rules relating to insurance accounting procedures.  If a Rule Development Workshop is requested for either Rule, it will be scheduled for March 8, 2017 at …

  A number of insurance regulations were proposed for revision last week as the Florida Office of Insurance Regulation proceeds to update them to reflect an electronic filing process. A two-day Rule Development Workshop on the Rules has been scheduled …

  Florida Senate:  Higher Workers’ Comp Rates Here to Stay Republican Rob Bradley of Fleming Island says his goal is rate stabilization.  Jim Ash reports for WUSF.   Attorneys’ fees protected in rival insurance claims reform bill Freshman Senator Gary …

  2017 Florida Insurance Legislation to Watch The Florida Insurance Market has been a hotbed of controversy over the last year, and many are looking at the Florida State Legislature to alleviate some of the concerns coming from Consumers, Businesses …

  Florida’s Citizens Property Insurance Corporation (“Citizens”) Board of Governors will meet on Friday, March 3, 2017 to vote on whether to call its 2015 Everglades Re II Series 2015-1 bonds on their optional redemption date of May 3, 2017.  …

  Employee Stole $1M From Fort Lauderdale Insurer, Investigators Say A Coral Springs Woman who worked as a Customer Service Representative for a Fort Lauderdale-Based Insurance Company funneled more than $1 Million of the Company’s money to her own Bank …

  First Florida Bill Addressing AOB Introduced for 2017 Session Senate Bill 1038, Filed February 17 by State Senator Dorothy Hukill and Co-Sponsored by Senator Kathleen Passidomo seeks to clarify the intent of the Assignment of Benefits Provision for Policyholders …

  Border Adjustment Would Sock Florida with Hugely Higher Insurance Rates In recent years, Congress repeatedly has considered Legislation that would have adversely and profoundly impacted Disaster-Prone States like Florida.  Luckily, we were spared passage, over and over again.  Right …

  Insurance Losses Demand Action From State Lawmakers Hurricane Season is still more than three months away, but a different kind of tempest is threatening Florida Property Insurers, their Policyholders and the State’s Economy.  The Orlando Sentinel Editorial Board weighs …

  Crisis?  Maybe, But Top Florida Insurer Says Severity of AOB Claims Falling Florida’s largest Property Insurer says its Average Cost is going down, not up, for Claims associated with what many in the Industry call a Crisis requiring Immediate …