Meeting Recap: Governor Crist’s Continuing Care Advisory Council

On October 11, 2007, a representative from this firm attended a meeting of the Governor’s Continuing Care Advisory Council (“Council”).  An Agenda for this Council meeting is included for your review.

Florida Office of Insurance Regulation (“OIR”) staff made a presentation on the current statistics relating to Continuing Care Retirement Communities (“CCRCs”).  One statistic identified the median growth in insurance expenses for Florida CCRCs.  The data included premium for property insurance and liability insurance combined.

The data reflected the following growth:

1999:  0.16%

2000:  31.81%

2001:  71.81%

2002:  27.31%

2003:  16.72%

2004:  1.30%

2005:  -2.65%

2006:  8.75%

Additionally, the Council decided to form a legislative work group to bring together strategic partners and stakeholders to form a coalition that would develop a legislative package to address “look alike facilities,” and other needed statutory reforms yet to be determined.

 

The above information is intended to be a general summary of the discussion during the Council meeting.  It is neither intended to provide regulatory advice, legal advice nor specific analysis, and should not be relied upon in making individual business decisions, specific in nature.

 

Should you have any questions or comments regarding this information, please feel free to contact this office.