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Michelle Robleto begins her new job as the Office of Insurance Regulation’s new Deputy Insurance Commissioner for Life and Health Insurance today. “Michelle Robleto is a consummate professional with an outstanding reputation in the health insurance industry, and as a public servant for the State of Florida,” remarked Commissioner Kevin McCarty. “I am confident she will […]
The Office issued an order on October 24, 2011 advising NCCI that its request for an overall rate increase of 8.9% would be approved if the NCCI modified its methodology for factoring in dividends. The increase is to become effective January 1, 2011. NCCI – OIR Order on Rate Filing OIR press release
The Florida Hurricane Catastrophe Fund has released the October update of its fund balance. These projections take into account the FHCF’s cash on hand and its expected ability to issue bonds. For the current FHCF contract year, the FHCF has $18.4 billion in aggregate potential reimbursement obligations. However, the FHCF projects a $3.2 billion potential shortfall in […]
The Office of Insurance Regulation has indicated that it is too early to adjust workers’ compensation rates for changes the Florida legislature might make next year to the manner in which workers’ compensation prescriptions are dispensed. The National Federation of Independent Business asked the OIR to cut 2.5% from the National Council on Compensation Insurance workers’ […]
The Advisory Council of the Florida Hurricane Catastrophe Fund meets October 18, 2011, to consider the most recent analysis of the FHCF’s claims-paying capacity. The FHCF’s ability to reimburse participating insurers for covered losses consists of a combination of its cash on hand and its ability to issue bonds. By law, the State Board of […]
One of the most significant legislative proposals for the upcoming session in the residential property arena will be reducing the size of the FHCF. Jack Nicholson of the FHCF has said that while the FHCF currently projects that it could meet its mandatory obligations, worldwide financial conditions have reduced the margin for doing so to […]
NCCI filed a request for a statewide average rate increase of 8.9% and the OIR held a public hearing to gather testimony and evidence regarding the request. Insurance Commissioner Kevin McCarty chaired the panel listening to the presentation of the NCCI. He was joined on the panel by Belinda Miller (General Counsel), Richard Koon (Deputy […]
The Office of Insurance Regulation has named Michelle Robleto as its new Deputy Insurance Commissioner for Life and Health Insurance. “Michelle Robleto is a consummate professional with an outstanding reputation in the health insurance industry, and as a public servant for the State of Florida,” remarked Commissioner Kevin McCarty. “I am confident she will be a […]
The Florida Office of Insurance Regulation has issued an informational memorandum to all health insurers and HMO’s. The purpose of the memorandum is to notify health insurers and HMO’s of a recent amendment to the federal interim final rules relating to Internal Claims and Appeals and External Review Processes. The OIR’s informational memorandum can be […]
The PIP Working Group convened by Insurance Consumer Advocate Robin Westcott resumes its consideration of the complex issues affecting the Florida market at an October 10, 2011 workshop. This workshop is part of a series of meetings scheduled by the Consumer Advocate to bring PIP stakeholders together. She intends for the process to culminate in […]
