Category: Insurance Regulatory News

Aflac, State Farm reach life insurance settlements  Some insurance companies managed to check death rolls quietly but quite efficiently to stop paying annuities, an investigation spearheaded by Florida officials found.  Charles Elmore reports for the Palm Beach Post’s “Protecting Your Pocket” …

In a notice issued December 19, 2017, the Florida Hurricane Catastrophe Fund (“FHCF”) announced its maximum statutory adjusted capacity for mandatory FHCF coverage, the maximum statutory coverage for any optional coverage, and the aggregate fund retention used to calculate individual …

Florida Senator Resigns Amid Sexual Misconduct Allegations The Resignation came hours after Republican Goveernor Rick Scott and Attorney General Pam Bondi said he should resign.   Senator Latvala criticized calls for his Resignation and said he no longer wants to serve …

  The National Association of Insurance Commissioners (“NAIC”) released its Report on Profitability by Line by State in 2016 today, December 18, 2017. The report estimates and allocates profitability in property and casualty insurance by state and by line of …

The time window to submit written comments opened today, December 18, 2017, on the Florida Hurricane Catastrophe Fund’s (“FHCF’s”) Insurer Reporting Requirements and Responsibilities proposed Rule 19-8.029, F.A.C. for the 2018-2019 FHCF Contract Year. In general, the proposed Rule addresses …

Keys Metal Roof Proposal Meets More Resistance A move to require Metal Roofs for Homes and Businesses needing a new roof after Hurricane Irma damage ran into more headwinds at Wednesday’s Meeting of the Monroe County Commission.  The Keynoter’s Kevin …

The Florida Commission on Hurricane Loss Projection Methodology (“FCHLPM”) has officially published its Flood Standards Report of Activities as of November 1, 2017.  The report documents the FCHLPM’s work relating to the development and adoption of flood standards. Pursuant to …

Florida’s Citizens Property Insurance Plans For (Slightly) Harder Reinsurance Market in 2018 Florida Citizens aims to buy $1.45 Billion of Risk Transfer and Reinsurance for 2018, up from the $1.33 Billion purchased in 2017, likely from a mix of Traditional …

Florida’s Disposable Workers: Companies Profit From Undocumented Laborers, Dump Them After Injuries A 37-year-old Father whose dominant hand remains damaged, thought he could rely on Florida’s Workers’ Compensation System, which requires Employers to cover Medical Care and Lost Wages for …

Kicking off an extensive agenda, today, December 13, 2017, Florida’s Citizens Property Insurance Corporation’s (“Citizens”) President and CEO Barry Gilway reported that the State-run insurer ” . . . emerged from the 2017 hurricane season financially sound and continues to …