The Florida legislature adopted SB 542 intended to encourage admitted market insurers to write personal residential flood insurance programs. If approved by the Governor, the bill will make changes to Florida’s rating law and modeling review process to facilitate private flood products. Section 627.062, Florida Statutes, lists factors to be considered by the Office of […]
A $105 million tax cut package passed by the legislature on the last day of session includes a break from sales taxes for consumers purchasing hurricane preparedness supplies as the 2014 hurricane season approaches. Consumers buying hurricane supplies between May 31 and June 8 will be able to do so free from sales tax, assuming […]
A substantial rain event in North Florida made national news this week as it caused flooding in many areas, waashing out roads and bringing rising water into many homes and businesses. Governor Rick Scott issued Executive Order 14-144 declaring a state of emergency in counties extending from the Florida-Alabama state line to the Gainesville area. The Department of […]
The 2014 legislative session is drawing to a close, but in some respects this only means the political process will shift forums. Florida’s 60-day legislative session has only a week remaining. The last week is always the most active, with bills that have not yet passed being in a do-or-die situation for this year. Among […]
The Florida Supreme Court has announced that it will not hear an appeal relating to the 2012 revisions to Florida’s Personal Injury Protection law. This means the reforms remain in effect. The reforms have been taken into account in insurers’ rate filings, so the Supreme Court’s decision keeps the legal reforms in line with the […]
The Florida House of Representatives passed SB 424 by 74-44 margin, sending the bill to Governor Rick Scott. The bill prohibits any personal lines property or auto insurer from refusing to issue or renew a policy, or charging a differential rate, based upon the policyholder’s lawful ownership, possession or use of a firearm. The new […]
Later today Governor Rick Scott is expected to sign a bill that will reduce vehicle registration fees that were increased in 2009. Unlike last year, however, the fee rollback is not tied to a repeal of insurers’ salary credit against the premium tax. When the proposal surfaced last year, some legislators sought to fund it by eliminating the credit insurers […]
Rich Robleto has agreed to return to OIR as Life and Health Deputy Commissioner. The OIR announced his return in a release dated March 12, 2014. He will officially begin the job on March 24. The announcement quoted Insurance Commissioner Kevin McCarty stating: “Rich Robleto is a seasoned professional with more than 30 years of […]
A proposal that would facilitate the repair of homes insured by Citizens Property Insurance Corporation is gaining support but is opposed by the trial bar. The Senate Banking and Insurance Committee advanced a bill that would adopt a form of “managed repair” program for Citizens’ sinkhole claims. Citizens president Barry Gilway favors the proposal as a way […]
The Florida Senate has been advancing a bill intended to increase private market interest in making flood insurance coverage available to Floridians. However, in light of the complexities of the issue, some Senators are suggesting that recent substantial revisions to the bill should be sent back to the Banking and Insurance Committee for further review. […]