Category: Insurance Regulatory News

Insurer Citizens expects to get bigger after Irma After Hurricane Irma stung property insurers for $6.3 billion in claims and counting, Florida’s state-run and second-largestcarrier expects to add customers in 2018.  Charles Elmore reports for the Palm Beach Post. Citizens …

Citizens Insurance Customer?  There’s a Change in Your Rate Change Customers who get wind-only coverage from Citizens could fare a little better, with an approved increase just under 1 percent.  The Palm Beach Post’s Charles Elmore reports for the “Protecting …

The Florida Office of Insurance Regulation (“OIR”) advised today, December 6, 2018, that it has established the 2018 personal and commercial property insurance rates for Citizens Property Insurance Corporation (“Citizens”).  This action comes after a postponement in the rate filing …

Florida Senate Eyes Possible No-Fault Insurance Repeal A key Senate Committee next month will take up a Proposal that would replace the State’s No-Fault Auto Insurance System, while a similar Bill has already sped to the House Floor.  THE NEWS …

PCI Calls on Florida Senate Insurance Committee to Approve Auto Glass Assignment of Benefits Legislation The Property Casualty Insurers Association of America called on the Florida Senate Banking and Insurance Committee to pass Senate Bill 396, which seeks to curb …

Florida’s Citizens Property Insurance Corporation (“Citizens”) has been served with 23 Hurricane Irma-related lawsuits since the storm struck the State on September 10.   That number is expected to increase sharply during the First Quarter of 2018, according to an overview …

Nearly 1,200 Buildings in the Keys were Destroyed by Hurricane Irma Included in the number are 727 Structures in Unincorporated Monroe County. Not included are mobile homes because is many instances, Inspectors couldn’t match a structure with a Lot because …

The Florida Commission on Hurricane Loss Projection Methodology (“FCHLPM”) has published its statutory Hurricane Standards Report of Activities as of November 1, 2017. To view the document, click here. The FCHLPM has operated on a biennial cycle since 2009, when …

The Florida Hurricane Catastrophe Fund (“FHCF”) has posted Mandatory Year-End Loss Reporting information for 2017 Hurricanes Irma and Nate, as well as for 2016 Hurricanes Hermine and Matthew. FHCF Participating Insurers must submit Year-End Proof of Loss Reports for each …

Insurers With Stockholders Pay Out Less To Florida Drivers, Study Says As Car Damage from 2017 Storms in Florida and Texas threatens to set Records, does it matter if your Insurance Company has to please Stockholders and not just Policyholders?  …