Jun 17, 2016
Public Hearing Requested over Heritage’s 14.9-Percent Insurance Rate Increase Florida’s Insurance Consumer Advocate has called for a Public Hearing over Heritage Property & Casualty’s requested statewide average 14.9-percent rate increase for former policyholders of State-Run Citizens Insurance, the Sun-Sentinel’s Ron …
Jun 17, 2016
On June 17, 2016, four federal financial institution regulatory agencies issued a joint statement on the new accounting standard, Accounting Standards Update (ASU) No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, …
Jun 16, 2016
Deadline Looms for Citizens’ Appointment Agreements Addressing Data Security Appointed agents and agencies of Florida’s Citizens Property Insurance have just two weeks left to sign new appointment agreements or have their contract with the state-run insurer terminated, Insurance Journal’s …
Jun 15, 2016
The Nevada Division of Insurance (“NDI”) has issued guidance on Credit for Reinsurance standards for Captive Risk Retention Groups (“RRGs”) filing on a U.S. Generally Accepted Accounting Principles basis. In Bulletin 16-003 issued today, June 15, 2016, Nevada Insurance …
Jun 15, 2016
Florida’s Citizens Property Insurance Corporation’s (“Citizens”) Claims Committee meets via teleconference tomorrow, June 16, 2016, from 10 a.m. to 11:30 p.m. (ET) to review and approve a proposed contract for post-catastrophe imagery as part of its overall agenda. The …
Jun 15, 2016
Troubled Waters Panel Wades into Divisive Insurance Fight The CEO of one of Florida’s 10 biggest property insurers told a forum in Boca Raton Tuesday that inflated water-damage claims are “morally wrong” and hurt all consumers by raising rates, …
Jun 14, 2016
Insurance Controversy Targeted In Florida Forum It’s the topic off the season in the insurance world. It pits insurance companies against contractors, attorneys and other third parties they blame for inflating non-storm claims such as plumbing leaks. Caught in …
Jun 10, 2016
The Alabama Department of Insurance issued the following Bulletins to property and casualty insurers today, June 9, 2016 and yesterday, June 8 (to go directly to each complete bulletin, click on the hyperlinks below): Personal Property By-Peril Rating …
Jun 10, 2016
The National Association of Insurance Commissioners (“NAIC”) announced today, June 10, 2016, that it has adopted a recommendation that will activate principle-based reserving (“PBR”) starting on January 1, 2017. The recommendation from the NAIC’s PBR Implementation Task Force follows an extensive …
Jun 10, 2016
THE NEWS SERVICE OF FLORIDA published the following interview with outgoing Florida Insurance Commissioner Kevin McCarty today, June 10, 2016: NEWS SERVICE OF FLORIDA HAS: FIVE QUESTIONS FOR KEVIN MCCARTYBy JIM TURNERTHE NEWS SERVICE OF FLORIDA THE CAPITAL, TALLAHASSEE, …