Category: Insurance Regulatory News

At an October, 2008 Insurance Industry Committee on Motor Vehicle Administration (“IICMVA”) meeting, it was confirmed by the Florida Department of Highway Safety and Motor Vehicles (“FDHSMV”) that all property and casualty and fire companies authorized to issue motor vehicle insurance policies …

National Association of Insurance Commissioners (“NAIC”) International Solvency and Accounting Working Group (“ISAWG”) Chairman Ramon Calderon has advised that reaching an international consensus on accounting principles for contracts may be difficult to achieve.  The NAIC believes that a principles-based solution is …

STATE CAPITOL BRIEFS – MONDAY, MARCH. 2, 2009 THE NEWS SERVICE OF FLORIDA GROUP: CAT FUND A PAPER TIGER Florida’s $29 billion hurricane safety net couldn’t fulfill its duties without federal aid or the backing of Florida’s retirement system in …

1/20/09 PATRICK FARRELL / MIAMI HERALD Yolanda Nader the CEO and CFO of Dosal Tobacco Corporation at their Opa Locka headquarters PATRICK FARRELL / MIAMI HERALD Posted on Mon, Feb. 23, 2009 Dosal opposes new cigarette fee By PATRICK DANNER …

From The News Service of Florida WORKERS COMP FIX LIKELY But the House is likely to spend some time this week on a workers compensation bill, according to Acting House Speaker Larry Cretul, who on Tuesday is expected to drop …

  To view a complete story, click on a headline below:   Florida Citizens’ Board Member With Ties to Sansom Resigns A key figure in allegations that former House Speaker Ray Sansom misused his previous office as the chamber’s budget …

On Friday, February 27, 2009, the Florida Workers’ Compensation Joint Underwriters Association (“FWCJUA”) Investment Committee (“Committee”) met to review the FWCJUA’s current investment portfolio and consider whether an exception to its Investment Policy was warranted, given the state of the …

State Farm Insurance Company announced that its net worth has decreased by $10.4 billion (16 percent) in 2008, and the company will end the year at $53.3 billion.  State Farm cites a drop in equity values and catastrophe losses that …

The News Service of Florida reported that U.S. Senator Bill Nelson and Florida Chief Financial Officer Alex Sink plan to meet on Friday, February 27 to discuss proposed federal catastrophe backstop legislation and other ways of reducing Florida’s storm risk …

On Thursday, February 26, 2009, the Florida Office of Insurance Regulation (“OIR”) held a Rule Development Workshop on proposed Rule 69N-121.066 “Informal Conferences.”  To view the meeting notice and complete proposed Rule text, click here. The proposed Rule, which pertains to …