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Insurance

DFS Discusses Fees Charged by Agents

DFS Discusses Fees Charged by Agents

Questions regarding the permissible fees that a Florida agent may charge are among the most common we see.  Likewise, the Florida Department of Financial Services frequently receives questions from agents about the fees they may charge.  DFS recently published the following summary of fees that may be lawfully charged by a general lines agent: MVR […]

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OIR Names Chief of Staff

OIR Names Chief of Staff

Mike Yaworsky will be joining the Florida Office of Insurance Regulation as chief of staff, succeeding Belinda Miller.  Mr. Yaworski most recently has worked as an attorney with the Georgia Department of Insurance and previously worked in the Georgia Senate President Pro Tem’s Office. Mr. Yaworsky is familiar with Tallahassee, having received his undergraduate degree from Florida […]

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Patronis Named State CFO

Patronis Named State CFO

Governor Rick Scott announced today that he has appointed Jimmy Patronis as Florida’ next Chief Financial Officer. Patronis will be officially sworn in Friday, June 30, 2017, coinciding with the resignation date of current CFO Jeff Atwater.  Atwater announced his resignation earlier this year and will become a vice president at Florida Atlantic University. The swearing […]

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Atwater Selects June 30 Departure Date

Atwater Selects June 30 Departure Date

Florida Chief Financial Officer Jeff Atwater has announced that June 30 will be his last day on the job, coinciding with the end of Florida’s fiscal year.  Atwater is leaving his CFO position to become a vice president at Florida Atlantic University. Atwater previously announced his resignation as of the end of the 2016 legislative […]

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Special Session Ends on Time

Special Session Ends on Time

The Florida legislature concluded its special session Friday afternoon as anticipated, but not without considerable speculation as to whether they would reach agreement on key budget issues. The original call of the special session indicated that the legislature would return to Tallahassee from June 7 through June 9 to adjust the state budget. The short […]

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Special Session to Focus on Budget

Special Session to Focus on Budget

The Florida legislature will convene in a special session beginning June 7, 2017, and ending June 9, 2017, to address several aspects of Florida’s budget.  The special session follows a decision by Governor Scott to veto $410 million in line item spending as well as other proposed spending from the budget passed by the legislature […]

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FHCF Enters Hurricane Season with Full Limit Available

FHCF Enters Hurricane Season with Full Limit Available

The State Board of Administration has announced the estimated borrowing capacity, estimated claims-paying capacity, and projected balance of the Florida Hurricane Catastrophe Fund as of December 31, 2017.  These estimates relate to the FHCF’s expected ability to pay reimbursements to insurers from losses occurring in the 2017-2018 Reimbursement Contract Year. The FHCF’s total estimated claims-paying capacity […]

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Is It Really That Time Again?

Is It Really That Time Again?

The months and years seem to go by quickly.  It doesn’t seem like half a year has gone by since Hurricane Matthew skirted Florida’s east coast, or since Hurricane Hermine came ashore in the Big Bend region.  The calendar is turning to June, though, and another hurricane season is upon us. Florida has experienced an […]

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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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