Category: Insurance Regulatory News

Cardinal settlement yields $16 million for DEA in mid-FL

Oct 7, 2008

Florida Health News–October 6, 2008 Cardinal Health’s pharmaceutical-distribution center in Lakeland, which lost the legal right to dispense controlled drugs ten months ago following a Drug Enforcement Administration investigation, will get its DEA license restored as part of a $34 …

NCCI Workers’ Compensation Rate Hearing

Oct 7, 2008

> NCCI Workers’ Compensation Rate Hearing The Florida Department of Financial Services, Office of Insurance Regulation ("OIR"), has issued a Notice of Workshop Hearing regarding the workers’ compensation rate filing made by the National Council on Compensation Insurance, Inc. ("NCCI"). …

Hurricane fund crisis could put homeowners at risk

Oct 6, 2008

Herald Tribune–October 5, 2008 By Paige St. John SARASOTA – When Florida lawmakers expanded the state’s hurricane fund in 2007 to force lower premiums, they tied the ability to deliver billions in insurance coverage to something as volatile as tropical …

State Farm to trim auto insurance rates in Florida

Oct 6, 2008

Orlando Sentinel–October 4, 2008 By Julie Patel | South Florida Sun-Sentinel   State Farm Mutual Automobile Insurance Co., the largest automobile insurer in Florida, will slightly lower its statewide average annual premium this month, the insurer said Friday. The rate cut, …

Taxpayers on the hook for $400M in liability if the big one hits

Oct 6, 2008

Charlotte Sun and Weekly Herald–October 5, 2008    By TERRY O’CONNORNorth Port Assistant Editor PORT CHARLOTTE — A fourth consecutive Florida hurricane season without a cataclysm like Hurricane Charley continues to place homeowners on more even footing with their property insurance …

Rampant Medicare fraud suspected in Miami

Oct 6, 2008

USA Today–October 5, 2008 By Julie Appleby, USA TODAY Home health care costs charged to Medicare in the Miami area have risen 20 times the national average in the past five years, prompting a federal investigation of suspected fraudulent billing. …

Creator of catastrophe risk model broadens focus

Oct 6, 2008

Karen Clark created the first computer model to help insurers better gauge the losses they might face after a major catastrophe. Now she is working with insurers to use the models more wisely. BY BEATRICE E. GARCIAMiami Herald–October 6, 2008 …

Capitol to Courthouse Headliners: Monday, October 6

Oct 6, 2008

To view a complete story, click on a headline below: Hurricane fund crisis could put homeowners at risk When Florida lawmakers expanded the state’s hurricane fund in 2007 to force lower premiums, they tied the ability to deliver billions in …

Insurance-Related Administrative Actions: Week Ending October 3

Oct 6, 2008

The following insurance-related administrative actions were posted on Friday, October 3, 2008. Final Property/Casualty Insurance Rules: 69J-7.007: Grants – Medical Condition Exception Notice of Rulemaking Development: Florida Division of Insurance Agents and Agency Services The Florida Department of Financial Services, …

First Citizens Mission Review Task Force Meeting Scheduled

Oct 6, 2008

The first meeting of the Citizens Property Insurance Corporation (“Citizens”) Mission Review Task Force (“Task Force”) has been scheduled to take place on Friday, October 10 at the Tampa Airport Marriott and via teleconference. Agenda items include: Sunshine Law Overview …