Florida Insurance Commissioner Offers Insurance Market Reform Solutions Based on ‘Cost Drivers’
Apr 9, 2010
In an opinion-style article published today, April 9, 2010, Florida Insurance Commissioner Kevin McCarty proposed “a more measured approach” to address Florida insurance market challenges that includes focusing on underlying problems, such as the cost-drivers he mentioned recently in a report to the Florida Cabinet.
Holding public adjusters accountable, reducing unjustified claims, reducing fraud and strengthening insurer solvency requirements were among Commissioner McCarty’s suggestions for reform. Establishing greater transparency and oversight of insurer transactions with affiliated (non-regulated) companies also was given as a solution to existing issues.
To view Commissioner McCarty’s article, click here.
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