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Salary Credit Against Premium Tax Remains Intact

Salary Credit Against Premium Tax Remains Intact

The 2017 legislative session might be best remembered for key initiatives that did not pass–  the legislature did not address the “assignment of benefits” issue and the increases to workers’ compensation insurance rates following recent Florida Supreme Court opinions.  The legislature also did not act with respect to Florida’s premium tax credit for salaries paid to […]

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Court Sides With NCCI, OIR in Workers’ Compensation Rate Dispute

Court Sides With NCCI, OIR in Workers’ Compensation Rate Dispute

Florida’s First District Court of Appeal reversed a Leon County circuit judge’s order in its entirety and sided with the National Council on Compensation Insurance (NCCI) and the Florida Office of Insurance Regulation (OIR) in upholding a 14.5% workers’ compensation rate increase. NCCI submitted rate filings to OIR responding to Florida Supreme Court decisions invalidating […]

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Lack of AOB Reform Likely to Put Pressure on Rates and Availability

Lack of AOB Reform Likely to Put Pressure on Rates and Availability

After only limited committee discussions during the 2017 session, the Florida legislature failed to adopt reforms to this state’s “assignment of benefits” problem.  The Florida Office of Insurance Regulation and Citizens Property Insurance Corporation offered substantial testimony before the legislature regarding the nature of the problem, steps the legislature could take to fix the problem, […]

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Session Draws to Close with No Workers’ Compensation Solution

Session Draws to Close with No Workers’ Compensation Solution

With only the formal act of adopting the state budget remaining, the 2017 Florida legislative session will close without reforms to Florida’s workers’ compensation laws.  Workers’ compensation became a high profile issue for the 2017 session after several court cases determined portions of the existing statutes to be unconstitutional.  The workers’ compensation system depends on […]

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Who Appoints Whom?

Who Appoints Whom?

Florida’s requirements relating to appointments can be confusing.  Here’s a quick summary of the individuals or entities who can make appointments under the insurance code: Insurance companies can appoint agents and insurance company employee adjusters. Licensed and appointed general lines agents can appoint customer representatives, crop hail and multi-peril crop agents. Adjusting firms can appoint […]

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Special Ethics Provisions Apply in States of Emergency

Special Ethics Provisions Apply in States of Emergency

With hurricane season now being only a month away, the Florida Department of Financial Services (DFS) has taken the opportunity to remind licensees of unique claims adjusting requirements that apply during states of emergency.  The Governor typically will declare a “state of emergency” during a hurricane affecting Florida.  Among other things, the declaration of an emergency invokes […]

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DFS Distinguishes Referral Fees, Marketing Gifts and Inducements

DFS Distinguishes Referral Fees, Marketing Gifts and Inducements

From time to time we receive questions about the various types of referral fees, inducements or other incentives that licensees encounter in the market.  The Florida Department of Financial Services reportedly receives these types of inquiries as well as recently published its interpretation of distinctions between referral fees, marketing gifts, and inducements.  DFS characterized these […]

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Key Insurance Issues Remain Unresolved as Session Progresses

Key Insurance Issues Remain Unresolved as Session Progresses

As the Florida legislature enters the final few weeks of the 2017 regular session, several important insurance issues remain unresolved.  One of the most prominent insurance issues in need of a legislative solution is the “assignment of benefits” issue.  Insurance Commissioner David Altmaier, Citizens Property Insurance Corporation chief executive officer Barry Gilway, and a number […]

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DFS Discusses Charitable Contributions by Agents

DFS Discusses Charitable Contributions by Agents

The Department of Financial Services recently issued a reminder relating to its view of charitable contributions made by licensees.  This is a subject that arises from time to time, wherein licensees such as insurance agents want to show their support for charities.  DFS certainly does not want to deter agents from being actively involved in […]

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OIR Publishes Information on AOB

OIR Publishes Information on AOB

The Florida Office of Insurance Regulation has posted information pertaining to the assignment of benefits (AOB) issue on its website at: http://www.floir.com/Sections/PandC/AssignmentofBenefits.aspx The web page includes media coverage of the issue as well as the OIR’s projections of the rate impact on Floridians over the next five years if legislative reforms are not enacted. The […]

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