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Privacy of Firearms Owners Bill Passes

Privacy of Firearms Owners Bill Passes

A bill, CS/CS/HB 155 Privacy of Firearms Owners, that assures doctors are limited in their ability to protect kids by inquiring about fire arms from their patients became one of the first  bills to pass both chambers. The bill also provides that insurers are prohibited from discriminating, denying coverage, or increasing premiums on the basis […]

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OIR to Review Life & Annuity Claims Practices

OIR to Review Life & Annuity Claims Practices

The Florida Office of Insurance Regulation has announced a public hearing at which it will investigate claims settlement practices in the life and annuity industry.  The OIR has directed that representatives of two insurers appear in Tallahassee on May 19 to address its concerns, and OIR advises that it continues to examine other insurers. According […]

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CFO Atwater Obtains $76 million Judgment Against Owner of Insolvent Insurer

CFO Atwater Obtains $76 million Judgment Against Owner of Insolvent Insurer

On April 13, 2011, a judgment for more than $76 million was handed down by the Complex Litigation Division of the Miami-Dade Circuit Court against the former owners of Aries Insurance Company.  The judgment announced by CFO Atwater, follows an extensive investigation by the Department of Financial Services (Department) that determined that Marcos Fraynd and […]

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OIR promotes Partners in Recovery Program

OIR promotes Partners in Recovery Program

OIR issues informational memorandum OIR-11-02M in late March to promote the Partners in Recovery Program, “a not-for-profit organization whose primary mission is to expedite the payment of property insurance claims following a disaster.”  The memo makes the following observations: Partners in Recovery provides year-round insurance disaster preparation and response communications among the Department of Financial […]

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DOR Updates Electronic Database for Reporting Premium Taxes

DOR Updates Electronic Database for Reporting Premium Taxes

The Florida Department of Revenue (“DOR”) has issued a Taxpayer Information Publication (TIP #11B8-01) describing changes to its electronic address/jurisdiction database.  Insurance companies use these database files for allocating premium tax to the various firefighters’ and police officers’ pension trust funds and local taxing districts. Insurers can register at http://geotax.state.fl.us to download the address/jurisdiction database […]

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OIR Releases Report on 2011 PIP Data Call

OIR Releases Report on 2011 PIP Data Call

The Office of Insurance Regulation has issued a document called “Report on Review of the 2011 Personal Injury Protection Data Call.”   The OIR recently issued a report compiling the results from its recent voluntary data call from insurers writing personal auto line of business.  Thirty one companies responded representing more than 80% of the market.  […]

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Differences in Property Legislation Remain at Session’s Midpoint

Differences in Property Legislation Remain at Session’s Midpoint

As we have now reached the midpoint of the 2011 legislative, some of the key elements of this year’s property insurance legislation still differ in significant ways between the House and Senate versions.  Property legislation tends to go down to the wire each year, and this year looks like it will be no exception. Some […]

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Taxpayer-Funded Property Insurance Corporation?

Taxpayer-Funded Property Insurance Corporation?

Senator J.D. Alexander ran an amendment to this year’s Senate property insurance bill to underscore a point he has been making for quite some time–  if Citizens Property Insurance Corporation does not charge premiums commensurate with its risks, the shortfalls in the form of assessments in essence are a form of tax on all Floridians.  The […]

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Big Day for Property Insurance Proposals

Big Day for Property Insurance Proposals

Major property insurance bills are scheduled to be heard today in both the Senate and the House of Representatives.  Both chambers are considering substantial property insurance reforms aimed at curing some of the so-called “cost drivers” of insurance rates in the Florida property market.  The term cost-drivers has been used to generically refer to several […]

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