Sep 28, 2010
Effective September 21, 2010, Rule 69O-137.002, entitled “Annual Audited Financial Reports”(also known as the ‘Model Audit Rule’) was revised to improve the Florida Office of Insurance Regulation’s surveillance of insurers’ financial condition, as well as conform the existing Rule …
Sep 28, 2010
To view a complete story, click on a headline below: Hannover Re sees gains from Florida collateral cut Florida regulators slashed collateral requirements for a Hannover Re unit as they dismantle barriers to offshore reinsurance in the hurricane-prone state, …
Sep 28, 2010
The Florida Office of Insurance Regulation (“OIR”) announced today, September 28, 2010, that it has signed a Memorandum of Understanding (“MOU”) with its Mexican counterpart, the Insurance and Surety National Commissioner of the United Mexican States. The MOU will coordinate regulatory actions affecting insurers …
Sep 27, 2010
From today’s Jacksonville Times-Union: Fifty years ago this week, Vice President Richard Nixon appointed then-American Heritage Life Insurance President Claude Kirk Jr. (above) to cull support for the Republican presidential ticket from among Democrats and Independents. Mr. Kirk was …
Sep 27, 2010
Recently, a Florida appellate court held that an insured who does not receive a statutorily-mandated premium discount for wind loss mitigation must first pursue administrative remedies with the Florida Office of Insurance Regulation (“OIR”) before seeking court action against …
Sep 25, 2010
In continuing discussion on “The Life Insurance Consumer Disclosure Model Act (‘Model Act’),” via teleconference on September 24, 2010, the National Conference of Insurance Legislators (“NCOIL”) Life Insurance and Financial Planning Committee (the “Committee”) reversed its prior approval of …
Sep 24, 2010
The Florida Hurricane Catastrophe Fund (“FHCF”) has scheduled a September 29, 2010 Rule Development Workshop (“Workshop”) to review updates to the FHCF’s 2011/2012 Reimbursement Contract, Premium Formula, and Insurer Reporting Requirements and Responsibilities Rules. An FHCF Advisory Council meeting will …
Sep 24, 2010
Following is a listing of insurance-related Florida regulatory events for the week of September 27 – October 1, 2010: All times are Eastern Time. Additional information is available via hyperlink were noted in bold type. FLORIDA INSURANCE REGULATORY EVENTS Monday, …
Sep 24, 2010
The Office of Florida Governor Charlie Crist issued the following news release today, September 24, 2010: Governor Crist Awards 2010 Defense Grants ~ Florida’s military installations receive $5.85 million in critical development funds ~ TALLAHASSEE – Governor Charlie …
Sep 24, 2010
To view a complete story, click on a headline below: Citizens rates will rise again in Florida Regulators approve 9 percent and 10 percent average statewide rate hikes, some policyholders could see premiums drop Most Citizens Property Insurance …