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Insurance Commissioner Mike Yaworsky has named two current regulators to deputy commissioner positions at the Florida Office of Insurance Regulation (OIR). Commissioner Yaworsky named Sheryl Parker as OIR’s first Deputy Commissioner of Market Regulation. He likewise appointed Virginia Christy as the new Deputy Commissioner of Property and Casualty. A recent press release from OIR indicates […]
The Florida Legislature increased regulatory oversight over the insurance industry in its insurer accountability bill (SB 7052) as summarized separately in this report. The law changes will require the Office of Insurance Regulation to adopt a series of administrative rules. In several cases, the rulemaking process should result in rule workshops this summer as the […]
The Florida Legislature adopted HB 1185 during the 2023 legislative session. The bill has been presented to Governor Ron DeSantis for approval or veto. The bill’s consumer protection provisions are not limited to the insurance industry. However, several relate directly to insurers or insurance-related organizations. The following are among the key insurance-related changes in the […]
The Florida Hurricane Catastrophe Fund (FHCF) recently projected a potential shortfall in its claims-paying capacity for the first time in many years. By statute, the FHCF provides up to $17 billion in reimbursement capacity to residential property insurers each year. However, that obligation is limited to the amount the FHCF actually can pay, if less […]
The 2023 Florida Legislature passed SB 7052, commonly referred to as the insurer accountability bill. The bill came as a surprise to some after the legislature adopted meaningful property insurance reforms in a December 2022 special session and enhanced those reforms earlier in the 2023 session. Some observers commented that SB 7052 will reduce the […]
Governor Ron DeSantis has nominated Mike Yaworsky as Commissioner of the Office of Insurance Regulation (OIR). Yaworsky’s name might be familiar to those who follow insurance regulation in Florida— he previously served as Chief of Staff of OIR under former commissioner David Altmaier before leaving for his current position as Vice Chair of the Florida […]
The Florida legislature will convene in a special session this week to discuss several time-sensitive proposals. The call of this special session does not include any items directly related to insurance. Senate President Kathleen Passidomo and House Speaker Paul Renner have identified the following issues for consideration in the special session, which is scheduled to […]
The Florida legislature passed significant property insurance reforms in its December 2022 special session. Governor Ron DeSantis promptly signed these reforms into law, with many taking effect immediately upon the law’s effective date. However, a key change related to assignments of benefits (AOB) begins to have its real impact in the new year. For many […]
The new year will bring personnel changes at key insurance-related organizations in Florida. Perhaps most notably, Insurance Commissioner David Altmaier stepped down effective December 28, 2022. Commissioner Altmaier first joined the Florida Office of Insurance Regulation in 2008. He held several roles within the property and casualty financial oversight area, including Chief Analyst. He then […]
The Florida legislature will convene in a special session from December 12, 2022, through December 16, 2022. The special session is expected to include consideration of property tax relief for Floridians affected by Hurricane Ian as well as property insurance reforms. Governor Ron DeSantis has mentioned in recent weeks that he anticipated a special session […]
