Category: Insurance Regulatory News

  To view a complete story, click on a headline below:   Blog:  Sunshine State Insurance proposes 25 percent rate hike Regulators will question Sunshine State Insurance Co. today about its request to raise rates by an average 25 percent …

  To view a complete story, click on a headline below:   News Release:  Florida Insurance Commissioner Addresses Reinsurance Professionals in Bermuda Yesterday the Florida Insurance Commissioner was in Bermuda to address the Board of Directors for two prominent reinsurance …

A Florida Hurricane Catastrophe Fund (“FHCF”) Rule Development Workshop (“Workshop”) is being held today, September 29, 2010 to review updates to the FHCF’s 2011/2012 Reimbursement Contract, Premium Formula, and Insurer Reporting Requirements and Responsibilities Rules.  To view the agenda, click …

    The National Association of Insurance Commissioners (“NAIC”) Surplus Lines Implementation Task Force (“Task Force”) has scheduled an October 5, 2010 meeting to continue discussion on a new proposal designed to address federal surplus lines reform as provided in …

  Effective September 21, 2010, Rule 69O-137.002, entitled “Annual Audited Financial Reports”(also known as the ‘Model Audit Rule’) was revised to improve the Florida Office of Insurance Regulation’s surveillance of insurers’ financial condition, as well as conform the existing Rule …

  To view a complete story, click on a headline below:   Hannover Re sees gains from Florida collateral cut Florida regulators slashed collateral requirements for a Hannover Re unit as they dismantle barriers to offshore reinsurance in the hurricane-prone state, …

  The Florida Office of Insurance Regulation (“OIR”) announced today, September 28, 2010, that it has signed a Memorandum of Understanding (“MOU”) with its Mexican counterpart, the Insurance and Surety National Commissioner of the United Mexican States.  The MOU will coordinate regulatory actions affecting insurers …

  From today’s Jacksonville Times-Union:  Fifty years ago this week, Vice President Richard Nixon appointed then-American Heritage Life Insurance President Claude Kirk Jr. (above) to cull support for the Republican presidential ticket from among Democrats and Independents.  Mr. Kirk was …

  In continuing discussion on “The Life Insurance Consumer Disclosure Model Act (‘Model Act’),” via teleconference on September 24, 2010, the National Conference of Insurance Legislators (“NCOIL”) Life Insurance and Financial Planning Committee (the “Committee”) reversed its prior approval of …

The Florida Hurricane Catastrophe Fund (“FHCF”) has scheduled a September 29, 2010 Rule Development Workshop (“Workshop”) to review updates to the FHCF’s 2011/2012 Reimbursement Contract, Premium Formula, and Insurer Reporting Requirements and Responsibilities Rules.  An FHCF Advisory Council meeting will …