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Robert Ridenour of the Office of Insurance Regulation led an informative discussion of changes to the acquisition statement filing process at the recent OIR “Navigating the Changing Insurance Environment” conference. Section 628.461, Florida Statutes, has long governed the filings requires when a person seeks to acquire five percent or more of the outstanding voting securities […]
The Office of Insurance Regulation provided an overview of the trade secret filing requirements at its 2014 “Navigating the Changing Insurance Environment” industry conference. Virginia Christy of the OIR described the statutes that relate to trade secret filings and the process that ensues when a public records request encompasses documents marked as trade secrets. Florida […]
Insurance Commissioner Kevin McCarty welcomed a large group to Tallahassee on October 30, 2014, for the Office of Insurance Regulation’s 2014 industry conference entitled, “Navigating the Changing Insurance Environment.” The conference drew a large number of participants in person at the Florida State University Turnbull Conference Center, and others participated remotely through a live webcast. […]
The Florida Hurricane Catastrophe Fund (FHCF) recently announced that it anticipates being able to fully fund its $17 billion in initial season obligations and being able to support a large portion of a subsequent season’s obligations. Under its most recent projections, the FHCF would fall about $5 billion short of providing another $17 billion in […]
Throughout the campaign, most observers have said that the race between incumbent Rick Scott and former Governor Charlie Crist will go down to the wire. A recent poll heading into the early voting period suggests this remains the case. According to a Qunnipiac poll, Scott and Crist are deadlocked at 42 percent each among likely […]
The policy count at Citizens Property Insurance Corporation continues to decline, with further reductions projected over the next few months. Citizens had more than 1.4 million policies just two years ago. As of July 31 of this year, it had fewer than 950,000 policies. Citizens president Barry Gilway recent said he expects Citizens to have […]
Citizens Property Insurance Corporation announced that a surcharge on Florida homeowners insurance premiums will end about two years earlier than originally planned. The assessment has been in place to pay off bonds from the 2005 hurricane season. The surcharge will end as of July 1, 2015. Inital projections would have extended the surcharge until June 30, 2017. Citizens is able to take this […]
The Florida Office of Insurance Regulation has issued an order establishing the 2015 rates for Citizens Property Insurance Corporation’s personal lines programs. The statewide average homeowners rate decrease is 3.7%, which is a slightly greater reduction than the 3.4% decrease filed by Citizens. The OIR’s order sets rates for Citizens Homeowners’, Dwelling Fire, Mobile Homeowners and Mobile Homeowners Physical Damage policies. […]
A recently filed South Florida lawsuit seeks to have Florida’s 2012 Personal Injury Protection (PIP) reforms declared unconstitutional. The reforms were an effort to stem rising PIP rates and included a $2500 cap on non-emergency services while also removing certain types of services from PIP altogether. This is not the first lawsuit to challenge the […]
Democratic gubernatorial candidate Charlie Crist has named Miami-Dade County’s Annette Taddeo as his running mate. This selection might help Crist, who is from the Tampa/St. Petersburg area, increase his appeal to South Florida voters, women and Hispanics. Although Crist faces a primary opponent in former Senate majority leader Nan Rich, the focus of this year’s […]
