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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 […]
In a session marked as much by what did not pass as what did pass, one of the most significant pieces of legislation that cleared all of the hurdles during 2011 was the Commercial Insurance Rates bill (House Bill 99, Chapter 2011-160, Laws of Florida). The first version of this passed the Legislature and was […]
On September 30, 2011, The Florida Surplus Lines Service Office (FSLSO) sent notice of two changes. The first relates to the EMPA tax (Emergency Management Preparedness Assistance). As of October 1, 2011 this tax gets paid to the Florida Division of Emergency Management as a result of name changes and reorganizations implemented by the Governor. […]
The Florida Office of Insurance Regulation has named several veteran regulators to new positions within the agency. Some of the changes affect oversight of the property and casualty area, where the newly named senior regulators take the place of individuals who left the OIR to pursue other opportunities earlier this year. Richard Koon has been […]
By: Tom Crabb and Karen Asher-Cohen Adding to the risks faced by those who invest in life settlements, on September 20, 2011 the Delaware Supreme Court held that a life insurance policy can be challenged by the insurer for lack of an insurable interest even after the two year contestability provision in the policy has […]
Several months ago, the Florida Hurricane Catastrophe Fund (FHCF) released a proposal to gradually reduce the FHCF’s exposure to ensure it is able to meet its obligations to insurers. Jack Nicholson of the FHCF recently referred to moving from the current position in which the FHCF might meet its obligations, or hopes to meet its […]
The Banking & Insurance Committee of the Florida Senate has completed its review of a public records exemption for information submitted to the Department of Financial Services or Office of Insurance Regulation in connection with consumer service requests. The exemption applies to information submitted by consumers to the DFS’ Division of Consumer Services and to […]
