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The Florida Department of Financial Services (DFS) in its Insurance Insights publication has reminded life and health agents using “virtual offices” to list their home addresses as their business addresses on file with DFS if their records are kept at home. DFS notes that many agents do not lease permanent locations but instead rent conference […]
The Florida Department of Revenue has issued Tax Information Publication (TIP) 15ADM-03 relating to the community contribution tax credit. Insurers may be interested in the tax credit against the insurance premium tax. The credit also may be taken against the sales and use tax and the corporate income tax. The text of the TIP is […]
The First District Court of Appeal has issued its second opinion on assignment of benefit issues in recent weeks. In its most recent opinion, the court in United Water Restoration Group, Inc. v. State Farm Florida Insurance Company found that a county court had improperly dismissed United Water’s complaint based on coverage issues raised by […]
Bills passed by the Florida legislature specify when their provisions take effect, either upon the bills’ becoming law or upon a specific date. For insurance-related legislation, the legislature often establishes July 1 as the effective date. This is the case with several bills passed during 2015. Insurers therefore should consider the impact of 2015 legislation […]
The 11th Circuit Court of Appeal in Allen v. USAA Casualty Insurance Company considered whether section 627.7011(2), Florida Statutes, requires an insurer to confirm both increases and decreases of law and ordinance coverage on an OIR-approved form, or whether the requirement to use an approved form applies only when a policyholder decreases coverage below the […]
In Shands Jacksonville Medical Center, Inc. v. State Farm Mutual Automobile Ins. Co., Case No. 2D14-2001 (Fla. 1st DCA 2015), the 1st DCA overturned the trial court’s discovery order, because it was an abuse of discretion and exceeded the scope of discovery allowable under sections 627.736(6)(b) and (c), F.S., which is part of the PIP […]
The legislature made two key changes to Section 627.43141 relating to the Notice of Change in Policy Terms. These changes, set forth in HB 273, passed in the 2015 legislative session and now have been approved by the Governor. They are reflected in Chapter Law 2015-170. The statute has been troubling to insurers because it has suggested that […]
In Security First Insurance Company v. OIR, Case No. 1D14-1864 (Fla. 1st DCA 2015), the 1st DCA denied Security First the right to amend its homeowner’s policy forms to restrict a policyholder’s ability to assign post-loss rights with the company’s consent. The company’s proposed language was: “Assignment of this policy or any benefit or post-loss […]
The Florida Department of Revenue has issued guidance to insurers relating to their recoupments of Florida Insurance Guaranty Association (FIGA) assessments. Due to a law change passed in the 2015 regular session, recoupments of both regular and emergency FIGA assessments will not be subject to the insurance premium tax. The Department of Revenue’s guidance notes, […]
The Florida legislature passed House Bill 273 in the 2015 regular session allowing the electronic delivery of personal lines insurance documents. The bill has been approved by the Governor and is now reflected in Chapter Law 2015-170. The new law amends section 627.421, Florida Statutes, to provide that personal lines policyholders may affirmatively elect to […]
