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Pulling Together

Pulling Together

“There but for the grace of God, we are still here.  It’s like when something bad happens in New York City, they are Americans for a short while.  They pull together.  We are like that.  We are all Americans right now.  It will take a little while before we go back to our corners and […]

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Hurricane Michael Prompts Closures

Hurricane Michael Prompts Closures

State offices throughout the Florida Panhandle and Big Bend are closed as the state braces for Hurricane Michael. The state’s emergency operations, of course, remain open and active. In addition, insurance commissioner David Altmaier has said senior Office of Insurance Regulation officials are working remotely as the OIR’s offices are closed for regular business. Hurricane […]

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Governor Declares Emergency with Michael Tracking Toward Gulf Coast

Governor Declares Emergency with Michael Tracking Toward Gulf Coast

Governor Rick Scott has declared a state of emergency for Northwest Florida as Hurricane Michael takes aim at the region.  The state of emergency covers 26 counties in the Panhandle, through Tallahassee and eastward.  If the storm continues to move as anticipated, we can expect closures of state offices, schools and similar organizations later in […]

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OIR Summit to Cover Current Regulatory Issues

OIR Summit to Cover Current Regulatory Issues

The Florida Office of Insurance Regulation (OIR) is hosting the next edition of its industry summit on October 24-25 in Tallahassee.  The OIR has hosted several similar summits in the past to discuss emerging issues of interest to regulators and the insurance industry. Early versions of the summit concentrated on the form and rate filing […]

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Divided Florida Supreme Court Sends Bad Faith Message

Divided Florida Supreme Court Sends Bad Faith Message

In a 4-3 decision, the Florida Supreme Court in Harvey v. GEICO General Insurance Company sent a sobering message to insurers. In Harvey, the insured was involved in an accident with another driver who died as a result of his injuries. The insured was covered under a policy providing $100,000 in liability coverage. The majority […]

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Court Upholds Conditions on Assignments

Court Upholds Conditions on Assignments

Florida’s 4th District Court of Appeal in Restoration 1 of Port St. Lucie v. Ark Royal Insurance Company determined that an insurer may require approval of all insureds and the mortgagee before an assignment of benefits is valid.  This ruling differs from a conclusion reached by the 5th DCA last year after the Office of […]

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DFS Discusses Revisions to Agent Penalty Rules

DFS Discusses Revisions to Agent Penalty Rules

The Florida Department of Services (DFS) conducted a workshop on Friday to receive comments to its proposed revisions to Rule Chapter 69B-231.  These rules set forth penalty guidelines for various misconduct by agents, adjusters and other licensees.  In instances where DFS has discretionary authority to suspend a licensee’s license, the rule identifies the suspension periods […]

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Law Change Removes Managing General Agency License Requirement

Law Change Removes Managing General Agency License Requirement

A law change adopted in the 2018 legislative session and affecting managing general agents took effect July 1, 2018.  With this law change, the Florida Department of Financial Services will no longer issue managing general agents’ licenses.  However, individuals and firms currently holding licenses will be allowed to keep them. Going forward, individuals acting as […]

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Collegiate Programs Help Build the Industry’s Future

Collegiate Programs Help Build the Industry’s Future

The Florida Insurance Council recently concluded its summer symposium discussing a variety of topics related to the insurance industry.  Among this year’s topics, FIC gave me the opportunity to provide a brief update on the successes of the Florida State University College of Business’ Dr. William T. Hold/The National Alliance Program in Risk Management and […]

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Citizens Defers Action on Rates

Citizens Defers Action on Rates

Citizens Property Insurance Corporation is delaying action on a proposed 2019 rate filing while it continues to look for ways to address concerns with assignments of benefits.  Citizens’ board recently decided to defer a proposed 7.9% statewide average increase for its personal residential programs.  The indicated rate need is much higher in some areas, but […]

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