Radey is an AV-rated firm consisting of lawyers who practice before state agencies and in all state and federal courts.
Citizens Property Insurance Corporation has named Barry Gilway as its new chief executive officer. Gilway will succeed Tom Grady, who has served as its interim president since the resignation of Scott Wallace earlier this year. Gilway most recently has been president of Mattei Insurance Services based in Seattle, Washington. His prior experience includes executive positions […]
Citizens Property Insurance Corporation hosted a depopulation summit last week in Tampa. The event has been widely discussed in the media and other forums. These summaries typically provide a broad overview of the discussion, often concentrating on the public policy considerations that go along with decisions about the extent to which property insurance prices should […]
Citizens Property Insurance Corporation is hosting a depopulation summit today in Tampa. The session will begin with a discussion of the recent survey Citizens conducted to determine insurers’ thoughts on removing policies. Topics to be discussed in this area include the ability of insurers to charge adequate rates, the availability and cost of reinsurance for […]
NIMA announced in recent days that it has adopted a premium allocation method for distributing surplus lines premium taxes on casualty insurance. A NIMA release indicates that the newly adopted method will streamline the allocation and distribution of surplus lines premium taxes for surplus lines brokers and member states. NIMA believes it remains on track to launch its Surplus Lines […]
Policyholder groups and other interested parties in recent weeks have been debating various aspects of the coverage provided by Citizens Property Insurance Corporation. These discussions show the challenge of dealing with issues affecting a residual market as large as Citizens in a market as challenging as Florida. In some areas of the state policyholders generally […]
The Florida Office of Insurance Regulation (OIR) issued Informational Memorandum OIR-12-02M earlier this month providing guidance to insurers and they implement new Personal Injury Protection reforms. The Informational Memorandum coincided with Governor Scott’s signing HB 119 into law. The Informational Memorandum points out that one of the new provisions of the PIP reform requires insurers […]
The rate levels of Citizens Property Insurance Corporation have received considerable attention in recent weeks. Citizens committees have considered the possibility that under current law it should be charging actuarially sound rates for new customers and its capped rates should apply only to existing customers. Although the statutory basis for this approach has been part […]
A recent report from the Kaiser Foundation indicated that health insurers will be required to issue millions of dollars in refunds because their medical loss ratios fall below new requirements. However, the Florida Office of Insurance Regulation issued a statement pointing out that the report might be drawing conclusions from data that was not intended […]
Citizens Property Insurance Corporation is hosting a forum on June 1, 2012, in Tampa to discuss proposals for depopulation. Accordingly to a recently published agenda, the meeting will concentrate on barriers to depopulation and potential solutions. This will include the adequacy (or lack thereof) of Citizens’ rates as well as issues pertaining to data quality. […]
The Florida Office of Insurance Regulation (OIR) has issued informational memorandum OIR-12-03M discussing the recent removal of the workers’ compensation excess profits reporting requirement. The legislature passed HB 941 this year eliminating the excess profits law’s application to workers’ compensation insurance. Governor Scott has now signed this bill into law. As a result, the OIR […]
