Category: Insurance Regulatory News

  Florida’s search for new insurance chief a priority for Rick Scott, Cabinet Governor Rick Scott and the Florida Cabinet plan to replace the departing insurance commissioner through a nationwide search, which they hope will be completed long before he …

  A detailed analysis conducted by Citizens Property Insurance Corporation (“Citizens”) for state insurance regulators has concluded that water loss claims, exacerbated by assignment of benefits (“AOB”), are driving higher rates in South Florida and increasingly across the state. Responding …

  Florida’s Citizens Property Insurance drops under 500,000 policies Florida’s insurance company of last resort has shrunk to levels it hasn’t seen in more than a decade.  The Tampa Bay Times’ Jeremy Wallace reports via “The Buzz” blog.    Insurance …

  Citing the benefits of a “reinvigorated” private insurance market, affordable reinsurance and favorable weather, Florida’s Citizens Property Insurance Corporation (“Citizens”) announced today, January 20, 2016, that it has reduced its policy count to under 500,000, marking a milestone as …

  Florida Senate Committee Approves Bill to Establish State Insurance Standards for Ride-Share Companies. Colodny Fass’ Katie Webb, lobbyist for the Florida Property & Casualty Association, noted that there is a national compromise agreement that the insurance industry reached with the TNC …

  Consumer Federation of the Southeast:   Florida Should Maintain Auto Pre-Insurance Inspection For almost 30 years, Florida consumers have been well-protected by a law requiring certain used cars to be inspected before they can be insured.  Consumer Federation of …

  The Florida Office of Insurance Regulation (“OIR”) has released the 2015 Workers’ Compensation Annual Report to the Florida Legislature. The OIR’s analysis shows Florida’s workers’ compensation market continues to remain competitive, well-capitalized and affordable with more than 250 private …

  Water loss claims changing the math for Citizens Unlike wind coverage rates, which depend on scientific models, determining rates for non-catastrophic losses is relatively straightforward, Florida’s Citizens Property Insurance Chris Gardner explains in this Sun-Sentinel editorial opinion.    Consumer …

  Comments are open until January 28, 2016 on two proposed Rules relating to the mediation of property insurance claims.   Proposed amendments to Rule 69J-166.002, F.A.C., “Mediation of Commercial Residential Property Insurance Claims,” and Rule 69J-166.031, F.A.C, “Mediation of …

  Missouri law prohibits the use of rates that are excessive, inadequate or unfairly discriminatory The Missouri Department of Insurance (“MDI”) issued  Bulletin 16-02 to Missouri insurers yesterday, January 12, 2016, in reference to the prohibited rating practice generally known …