The Florida Department of Revenue (“DOR”) has issued a Taxpayer Information Publication (TIP #11B8-01) describing changes to its electronic address/jurisdiction database. Insurance companies use these database files for allocating premium tax to the various firefighters’ and police officers’ pension trust funds and local taxing districts. Insurers can register at http://geotax.state.fl.us to download the address/jurisdiction database […]
The Office of Insurance Regulation has issued a document called “Report on Review of the 2011 Personal Injury Protection Data Call.” The OIR recently issued a report compiling the results from its recent voluntary data call from insurers writing personal auto line of business. Thirty one companies responded representing more than 80% of the market. […]
As we have now reached the midpoint of the 2011 legislative, some of the key elements of this year’s property insurance legislation still differ in significant ways between the House and Senate versions. Property legislation tends to go down to the wire each year, and this year looks like it will be no exception. Some […]
Senator J.D. Alexander ran an amendment to this year’s Senate property insurance bill to underscore a point he has been making for quite some time– if Citizens Property Insurance Corporation does not charge premiums commensurate with its risks, the shortfalls in the form of assessments in essence are a form of tax on all Floridians. The […]
Major property insurance bills are scheduled to be heard today in both the Senate and the House of Representatives. Both chambers are considering substantial property insurance reforms aimed at curing some of the so-called “cost drivers” of insurance rates in the Florida property market. The term cost-drivers has been used to generically refer to several […]
The Florida Office of Insurance Regulation has issued an informational memorandum (OIR-11-02M) informing property and casualty insurers of Partners in Recovery, a not-for-profit organization intended to expedite the settlement of property insurance claims. The program coordinates disaster preparation and response communications among the Department of Financial Services (DFS), Office of Insurance Regulation (OIR), emergency management agencies, […]
Florida Insurance Commissioner Kevin McCarty has announced announced a series of staff changes at the Florida Office of Insurance Regulation (OIR). Al Willis has been appointed acting Deputy Commissioner for Property & Casualty. Mr. Willis previously was the Director of Life & Health Financial Oversight and has been with OIR since 1987. He earned a bachelor’s degree in […]
The 2011 legislative gets underway with several property insurance bills on its agenda. Both the Senate and the House of Representatives have major property insurance bills on file that include numerous revisions to the property insurance laws, and in particular to laws governing residential property insurance. Perhaps the biggest issue of the 2011 session will […]
U.S. District Court Judge Roger Vinson has issued a response to the Department of Justice’s most recent motion in the federal healthcare lawsuit. Judge Vinson previously ruled that the federal healthcare law is unconstitutional, but the Department of Justice filed a motion seeking to ensure implementation will continue while it appeals. Vinson criticized the Department of Justice for […]
Florida Insurance Commissioner Kevin McCarty has been discussing the “cost drivers” affecting Florida’s property insurance market since last year’s legislative session. As the 2011 session draws near, Commissioner McCarty continues to identify the key factors affecting property and casualty insurers in Florida. McCarty top five issues include the following: 1. Attracting Capital– Commissioner McCarty points […]
