FPCA Homeowners Division: Comments on Insurer Annual Report Card Rule Requested

The Florida Property Casualty Association (“FPCA”) requests member comments on proposed Rule 69O-236.001 relating to insurer Annual Report Cards. 

The Florida Office of Insurance Regulation Rule Development Workshop on the proposed Rule originally scheduled to be held July 8, has been rescheduled for August 6, 2009.

The proposed Rule would adopt an Annual Report Card for authorized personal residential property insurers to be used by the Office of the Florida Insurance Consumer Advocate as required by State law.

The Annual Report Card would incorporate a form and a letter-grade scale that would evaluate each insurer on the following factors:

• The number and nature of consumer complaints, stated as a market share ratio, received by the Florida Department of Financial Services (“DFS”) against the insurer;
• The disposition of all related complaints received by the DFS;
• The average length of time for payment of claims by the insurer; and
• Any other factors identified as assisting policyholders in making informed choices about homeowners’ insurance.

To view the original July 8 meeting notice, click here.

Please forward any comments on the proposed Rule to Katie Webb at kwebb@cftlaw.com by Friday, July 31, 2009.