Category: Insurance Regulatory News

  Heritage Proposes 15 Percent Rate Increase in Most of South Florida Heritage, the third-largest Insurer in the Tri-County Region with 96,139 Personal Residential Policies at the end of March, this month filed for approval to increase rates an average …

  The Florida Office of Insurance Regulation advised today, September 14, 2016, that it has released an actuarial study written by Pinnacle Actuarial Resources, Inc. (“Pinnacle”) that estimates the effect of cost savings realized by insurance companies writing Personal Injury …

  Post-Hurricane Recovery Florida Best Practices Task Force Created Citizens for Responsible Spending Chairman Barney Bishop III today Tuesday the creation of the Post-Hurricane Recovery Best Practices Task Force, SunshineStateNews.com Publisher Nancy Smith reports.   Florida’s Olympus Insurance Promotes Burton …

  Florida’s First Hurricane in 11 Years “Could Have Been a Lot Worse” for Insurers While Preliminary Damage Estimates and Claims are still trickling in from Hurricane Hermine, Florida’s first named Hurricane since 2005, the consensus from the Insurance Industry …

  Florida Reports Success in Invasive Snail Eradication Effort The snails eat over 500 kinds of plants as well as plaster and stucco.  They also can carry parasites that can cause meningitis in humans.  The Associated Press reports via the …

  Hermine:  Losses Seen Up To $500M, Could Have Been Worse, Insurers Say An early Estimate puts losses approaching $500 Million for the first Hurricane to make landfall in Florida in more than a decade, but Hermine turned out to …

  The Florida Office of Insurance Regulation (“OIR”) and the Department of Financial Services (“DFS”) advised today, September 8, 2016, that they have been made aware of a scam involving the unauthorized use of Florida Insurance Commissioner David Altmaier’s name …

  In a Bulletin issued September 7, 2016, the Florida Hurricane Catastrophe Fund advised Participating Insurers on reporting requirements in the wake of Hurricane Hermine. To view the complete Bulletin, click here. Extensive Florida Hurricane Catastrophe Fund information is also …

  Jack Latvala Wants Answers After Tallahassee’s Hermine Experience Senator Jack Latvala is questioning whether Community-Based Power Operations—such as City of Tallahassee Utilities—are positioned as well as they could be to recover after major storms. Tallahassee Officials say they did not …

  Florida Approves Nearly 70K Citizens Policies for November Take-Outs The Florida Office of Insurance Regulation has approved various Insurers to participate in the November Citizens Property Insurance Corp. Take-Out Period.  The total number of Policies approved is 69,746, Insurance …