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Citizens Property Insurance Corporation launches its clearinghouse for new business today. The 2013 Florida legislature authorized the clearinghouse as a method of reducing the inflow of new business into Citizens when private market insurers are willing to write the policies. The clearinghouse is only available for new business entering Citizens but later this year is […]
The Office of Insurance Regulation announced that rates for personal injury protection (PIP) coverage are projected to drop by an average of 13.2 percent. This analysis is based upon on a review of the rates of 20 insurers that comprise a majority of Florida market. It is important to note that PIP coverage makes up only a […]
The Florida Office of Insurance Regulation responded to Chief Financial Officer Jeff Atwater’s request for an analysis of whether insurers are reflecting reduced reinsurance costs in their rate filings. Based upon a detailed review of filings that have been made by insurers among Florida’s Top 30 in writings, the OIR has concluded that insurers indeed […]
Governor Scott has filled a 10-month vacancy in the Lieutenant Governor position by naming Carlos Lopez-Cantera to the post. Lopez-Cantera previously served eight years in the Florida House of Representatives and was the Republican majority leader. Since leaving the House, Lopez-Cantera has been the Miami-Dade County property appraiser. The Lieutentant Governor position has been vacant […]
The Senate Banking & Insurance Committee has advanced a bill intended to encourage private market flood coverage in Florida. The bill would allow insurers to offer flood coverage as stand alone policies or as endorsements to existing policies. At a minimum, the flood policies would have to include the deductible options available from the National […]
Chief Financial Officer Jeff Atwater will remain in his current position and will seek reelection. Atwater placed his name in consideration for the presidency of Florida Atlantic University. Atwater announced at the time that the decision was a difficult one for him and in no way reflected any diminished enthusiasm for his position as CFO. […]
The beginning of a new year always brings with it an acceleration of Florida’s consideration of key public policy issues affecting the insurance industry. Activity in Tallahassee slows down in the second half of December, soon followed by the realization that the next legislation will be here quickly. For the property insurance industry, this means […]
As 2013 draws to a close, so will the process by which personal lines insurers may certify their forms’ compliance with the Florida Insurance Code. Through a series of orders, the Office of Insurance Regulation has allowed property and casualty insurers in most lines of business to certify their forms’ compliance with applicable requirements, thereby […]
Insurance Commissioner Kevin McCarty announced that Rebecca Matthews has been appointed as the Office of Insurance Regulation’s Chief of Staff. She has been serving as interim Chief of Staff since Audrey Brown’s departure in earlier this year. Ms. Matthews has been with the OIR since 2008. During her time with the agency, she has been involved […]
Citizens Property Insurance Corporation anticipates launching its clearinghouse on January 27, 2014, instead of January 2 as originally intended. Speaking before the Senate Banking and Insurance Committee, Citizens president Barry Gilway said that moving the date back “gives us the opportunity to conduct far more user-acceptance testing, and, with a much more degree of confidence when we […]
