Radey is an AV-rated firm consisting of lawyers who practice before state agencies and in all state and federal courts.
The holiday season always seems to pass too quickly. After an extended period of unwinding and spending time with families and friends, the new year always brings an abrupt end to this relaxed pace as we return to work, children return to school and we pick up where we left off. This will especially be […]
December 31 marks the end of another calendar year, and with that we close the books on another active year in the Florida insurance market. Florida’s diverse population, large base of potential policyholders and unique political and market issues tend to mean that insurance-related topics are prevalent in each year’s headlines. We began this year […]
The Department of Financial Services (DFS), Division of Agent and Agency Services released information on new changes beginning January 18, 2012 on the appointments and renewals of licensees in Florida. The Department says its focus is on the timeliness and accuracy of information. The changes assess late fees for failing to meet specified deadlines for […]
The Board of Governors of Citizens Property Insurance Corporation voted 5-3 to oppose legislation designed to reduce the size of the Florida Hurricane Catastrophe Fund. The FHCF is Citizens’ primary source of reinsurance. The FHCF has been promoting a plan to reduce its size through a combination of decreasing its maximum liability, increasing the co-participation requirement, and increasing […]
Citizens Property Insurance Corporation has announced that the emergency assessment in effect to pay for 2004 and 2005 storm bonds will remain at 1%. This follows an earlier reduction in the assessment from 1.4% to 1%. Citizens revisits the assessment amount annually to ensure the assessments are generating enough money to retire the bonds. If the […]
Insurance Consumer Advocate Robin Westcott has requested information from insurers writing personal injury protection (PIP) auto insurance. The request for information, made through an open letter to the auto insurance industry, is designed to facilitate the Consumer Advocate’s analysis of problems with PIP and potential solutions. As noted in her letter, the Consumer Advocate has […]
Over the course of many years, there has been no shortage of discussion in Tallahassee about the status and role of Citizens Property Insurance Corporation (and its predecessors). Raise its rates or cap them? Promote depopulation or getting rid of it, or use it as a safety valve for affordable coverage? After several years of […]
Florida Insurance Commissioner Kevin McCarty and Georgia Insurance Commissioner Ralph Hudgens have renewed an agreement between the states to ensure continuity of operations of mission critical functions in the event of a catastrophe that causes significant disruption to either state’s operations. Under the agreement, members of an affected state will use temporary workspace designated by […]
I recently recorded a podcast in the latest episode of A.M. Best’s Insurance Law Podcast, a series that examines timely and important legal issues affecting the insurance industry from an attorney’s point of view. In this episode, I discussed the pending proposal by the Florida Hurricane Catastrophe Fund to shrink its size and increase its costs over a […]
The last week has brought good news to Commissioner Kevin McCarty and the Florida Office of Insurance Regulation. Governor Risk Scott recently commented that he is saitisfied with the job Commissioner McCarty has been doing and expects the OIR to be part of the solution as he pushes toward reducing the size of Citizens Property […]
