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The Office of Insurance Regulation (OIR) has issued informational memorandum OIR-11-01 to life and health insurers and health maintenance organizations licensed in Florida. The stated purpose of the memorandum is to inform insurers of the requirements of Section 627.6487, Florida Statutes, relating to the guaranteed availability of health insurance. The memorandum states that eligible individuals […]
Florida’s administrative rulemaking process has received considerable attention in recent months. First, the legislature overrode a veto by former Governor Charlie Crist on a bill aimed at reducing costly regulations. New Governor Rick Scott then followed with an Executive Order directing all gubernatorial agencies to suspend rulemaking while pending rules can be evaluated for their […]
The Florida Office of Insurance Regulation (OIR) has released its Annual Report of Aggregate Net Probable Maximum Losses, Financing Options and Potential Assessments. The report describes the potential impact of 50-year, 100-year and 250-year events on the Florida Hurricane Catastrophe Fund (FHCF) and Citizens Property Insurance Corporation (Citizens). Events ranging from a 50-year storm to […]
Citizens Property Insurance Corporation has released the form by which insurers may seek limited apportionment company status for 2011. In cooperation with the Office of Insurance Regulation, Citizens has informed insurers they must submit their requests to the OIR on or before March 31, 2011. To qualify as a limited apportionment company, an insurer must […]
The Florida Office of Insurance Regulation has released its most recent annual report on the state of the Florida insurance market. The report describes the organizational structure of the Office of Insurance Regulation. In addition, the report discusses the economic impact of the insurance industry in Florida, stating that the industry accounts for $19.9 billion […]
It is not news to say that health insurance markets are typically dominated by a few big carriers. The question is not whether health insurance markets are concentrated, but instead the operative question is exactly how concentrated are they? In the 2010 edition of its Competition in Health Insurance: A Comprehensive Study of U.S. Markets […]
House Speaker Dean Cannon recently announced the creation of a select committee to consider the government reorganization and deregulation initiatives that have been gaining so much attention recently. Speaker Cannon asked Speaker pro tempore John Legg to serve as the chairman of the select committee and Rules & Calendar Chairman Gary Aubuchon to serve as the […]
Some familiar names at the Office of Insurance Regulation have moved to new positions. Belinda Miller, formerly Deputy Insurance Commissioner overseeing the property and casualty area, has been named acting General Counsel. She moves into this position following the retirement of former General Counsel Steve Parton. Robin Westcott has been named acting Deputy Insurance Commissioner […]
Sunshine State Insurance Company’s suit in Leon County Circuit Court that sought declaratory and injunctive relief against the State Board of Administration (SBA) has been dismissed because the insurer failed to exhaust its administrative remedies. The lawsuit related to loss reimbursement in connection with the SBA’s Florida Hurricane Catastrophe Fund (Cat Fund) Reimbursement Contract for […]
Today Judge Roger Vinson of the U.S. District Court for the Northern District of Florida – Pensacola Division agreed with Florida and twenty-five other states that the federal government cannot force its citizens to buy health insurance as it sought to do in the Patient Protection and Affordable Care Act as amended (“PPACA”). After concluding […]
