News & Updates

Insurance

State and Federal Officials Study Chinese Drywall

State and Federal Officials Study Chinese Drywall

As Florida and other states sought to rebuild after the 2004 and 2005 hurricanes, building materials were at a premium.  Unfortunately, homeowners are now finding that certain drywall imported from China and used in building or repairing homes is toxic and is believed to be causing a variety of problem ranging from corrosion of pipes […]

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Citizens Rate Filing Approved for PLA

Citizens Rate Filing Approved for PLA

Citizens Property Insurance Corporation had its first rate increase in several years approved by Florida Insurance Commissioner Kevin McCarty on October 29, 2009.   The Order approves rates for the Personal Lines  Account and the Mobile Homeowners Physical Damage Accounts and Commercial Lines Accounts. The order approving the filing does not address the High Risk Accounts (coastal territories […]

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Modeling Commission Outlines Mitigation Concerns

Modeling Commission Outlines Mitigation Concerns

The Florida Commission on Hurricane Loss Projection Methodology continued its discussion of Florida’s mitigation discount program on October 29, 2009.  The commission received testimony from several interested parties.  Among these presentations, I gave the commission information about the effects of the current discount program on premium levels and insurers’ underwriting decisions.  My comments highlighted several […]

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NCCI Rate Decrease Approved

NCCI Rate Decrease Approved

Insurance Commissioner, Kevin McCarty, accepted the National Council on Compensation Insurance’s (NCCI) revised rate filing and issued an order approving a rate decrease of 6.8% on October 26, 2009.  The Office and NCCI had previously reached an agreement on the amount of the decrease, 6.8%, but the Office took issue with some of the NCCI’s methodology, […]

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Insurance Consumer Advocate to Host Claims Roundtable

Insurance Consumer Advocate to Host Claims Roundtable

Sean Shaw, Florida’s Insurance Consumer Advocate, has scheduled a second roundtable for November 18, 2009, to discuss possible improvements to the insurance claims settlement process.  The Consumer Advocate hosted an initial roundtable on this topic over the summer and invited contractors and insurance claims personnel to discuss issues they have seen in determining the amount […]

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Office of Insurance Regulation to Revise Audit Rule

Office of Insurance Regulation to Revise Audit Rule

The Florida Office of Insurance Regulation has released draft changes to its audit rule.   The attached document shows substantial changes that the OIR is proposing to being its current rule into conformity with the Model Audit Rule.  The Office of Insurance Regulation held a workshop on October 21, 2009, to discuss the draft changes.  However, […]

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Public Adjuster Suits

Public Adjuster Suits

Two lawsuits have been filed seeking declarations that certain provisions of the public adjuster law are unconstitutional.  One suit was filed in Leon County on behalf of Fredrick W. Kortum, Jr. and one was brought in Miami-Dade County on behalf of three adjusting firms.  The lawsuits challenge subsection 626.854(6) and subparagraph 626.854(11)(b)(2), Florida Statutes.  The […]

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Congressional Proposal Would Create Federal Insurance Office

Congressional Proposal Would Create Federal Insurance Office

United States Representative Paul Kanjorski of Pennsylvania has released a discussion draft of a strike-all amendment to H.R. 2609 that would create the Federal Insurance Office (FIO) as an office in the United States Department of the Treasury.  Kanjorski’s amendment would be referred to as the Federal Insurance Office Act of 2009 and would set […]

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