Category: Insurance Regulatory News

  Senator Flores Rips Citizens’ Rate Hike The Florida Senate’s Insurance Chairwoman blasted a Proposed Rate Hike up to 10 percent in South Florida by Citizens Property Insurance Corp. Wednesday and said she will consider Legislation to Limit its “Borderline …

  Sawgrass Mutual Signs Consent Order, New Home Sought For Customers Under an Order of Administrative Supervision, Regulators are “Working with Sawgrass Mutual Insurance Co. and interested Parties to develop a Wind-Down Plan for the Company, which includes the orderly …

  Demotech Issues Series of Florida Insurer Financial Stability Ratings Demotech’s philosophy is to Review and Evaluate Insurers based on their area of focus and execution of their business model rather than solely on financial size.   South Florida Water …

  A Hurricane Andrew Repeat Would Cost $56 Billion In The US If Hurricane Andrew were to recur today the expected total industry insured losses, based on today’s exposures, would be approximately $56 Billion in the US.  The Intelligent Insurer …

  David Altmaier Focuses On “Assignment Of Benefits” Changes Florida Insurance Commissioner David Altmaier told Governor Rick Scott and the State Cabinet this week that his Office will continue to push Lawmakers during the 2018 Legislative Session to address an …

  Citizens’ Change OK’d, Leaving Insured With Tough Choices A water pipe breaks inside a wall of your house while you are at work, if you’re a Customer of Citizens Property Insurance Corp., you will soon face Two Choices.  The …

  Florida Insurance Commissioner David Altmaier announced today, August 16, 2017, that the Florida Office of Insurance Regulation has approved a form filing by Citizens Property Insurance Corporation to limit the accidental discharge and seepage of water damage claims to …

  Assignment of Benefits reform was the sole 2018 goal listed by Florida Insurance Commissioner David Altmaier when he presented his legislative agenda, along with an analysis of new Florida Office of Insurance Regulation (“OIR”) performance measures to the Florida …

  Senator Lee Files Personal Injury Protection Repeal Bill The Proposed Legislation Repeals Florida’s Motor Vehicle No-Fault Law and establishes a Mandate for Bodily Injury and Medical Payments Coverages. Floridians would be required to purchase Bodily Injury Liability Coverage at …

  People’s Trust Insurance To Start Checking Customers’ Credit Deerfield Beach-Based People’s Trust Insurance Co. plans to start running Credit Checks on New and Renewing Customers.  The Sun-Sentinel’s Ron Hurtibise reports.   State Holds August 23 Hearing To Consider Florida …