Category: Insurance Regulatory News
Oct 6, 2008
The Reserve Primary Fund (“Fund”), a money-market mutual fund, “broke the buck” in mid-September when it fell below $1 a share in net asset value. This was due in large part to its losses on debt issued by Lehman Brothers …
Oct 6, 2008
Insurance-Related Meetings: Month of October, 2008 Week of October 6-10 Monday, October 6 NAIC The National Association of Insurance Commissioners (“NAIC”) held a regulator-to-regulator meeting of the International Solvency and Accounting Working Group on Monday, October 6 at 11:00 a.m. …
Oct 3, 2008
The Florida Workers’ Compensation Insurance Guaranty Association (“FWCIGA”) recently held a Board of Directors (“Board”) meeting to receive updates on legal issues, claims, financial issues, and assessments for 2009. The meeting was called to order by Chairman Tom Stahl, with …
Oct 3, 2008
To view a complete story, click on a headline below: State Farm lowers auto rates 0.3 percent State Farm Mutual Automobile Insurance said Friday it would reduce its auto rates by 0.3 percent on new and renewal policies, effective Oct. …
Oct 2, 2008
Gainesville Sun–October 1, 2008 The Associated Press In the wake of criticism by key lawmakers, the state-backed property and casualty insurer, Citizens, is backing off plans to seek a new, larger office complex that once included a gymnasium, cafeteria and …
Oct 2, 2008
Insurance Journal–October 2, 2008 The Main Street America Group, based in Jacksonville, Fla., completed its acquisition of Great Lakes Casualty Insurance Co., a Michigan-domiciled private passenger auto insurance carrier, from Newco Financial Holdings Inc. All Great Lakes personnel have become …
Oct 2, 2008
Naples Daily News–October 2, 2008 By Staff reports NAPLES — The U.S. Senate passed legislation Monday correcting a federal mapping error that has prevented Naples Cay residents from participating in the Federal Flood Insurance Program. The House passed similar legislation …
Oct 2, 2008
Florida Health News–October 1, 2008 By Christine Giordano Even as MD Medicare Choice was collapsing this week, another Tampa-based Medicare plan that has been under state scrutiny over its finances stopped writing new business. Citrus Health Care, which has 41,000 …
Oct 2, 2008
The Florida Department of Financial Services (“DFS”), Division of Agent and Agency Services has issued a Notice of Proposed Rule Development concerning Rule Chapter 69B-211, Florida Administrative Code, relating to pre-licensing education for insurance representatives. A copy of the Notice …
Oct 2, 2008
To view a complete story, click on a headline below: Insurers may face class-action lawsuit Gov. Crist is pushing for a class-action lawsuit against the property-insurance industry, saying it is cheating Florida homeowners. Railing against the failure of the insurance …