Radey is an AV-rated firm consisting of lawyers who practice before state agencies and in all state and federal courts.
The Office of Insurance Regulation has released its 2014 annual report on the state of the Florida workers’ compensation insurance market. The report concludes that the market currently is competitive, well-capitalized, and robust. The report points out that six of the 10 largest workers’ compensation insurers in Florida are Florida-domiciled, up from four in the […]
The Office of Insurance Regulation has determined there is not a “reasonable degree of competition” in Miami-Dade and Monroe Counties for homeowners with dwelling limits exceeding $900,000 or for condominium unit owners with combined dwelling and contents limits over $900,000. As a result, Citizens Property Insurance Corporation will continue to make coverage available to these […]
As 2014 comes to a close, several of the issues that commanded considerable attention during the year reached their resolution and set the framework for 2015 ahead. When we all return from the holidays, the legislative committee weeks will be upon us and the 2015 legislative session will begin before we know it. However, before […]
As 2014 winds down, we reflect on the past year and look forward to 2015. Our offices are closed until Monday, December 29th so that we can be with our friends and family. We hope you have a happy holiday season and we wish you the best in the coming New Year.
The Florida Department of Financial Services recently published a reminder relating to potential dealings with agents and other licensees whose licenses have been suspended or revoked. DFS points to a provision of the Florida Insurance Code providing that it is unlawful for a former licensee, during his or her period of suspension or revocation of a […]
The Florida Department of Financial Services recently highlighted the need for agents to updated their addresses in its Insurance Insights publication. In particular, DFS noted that many life and health agents work from home but lease the opportunity to use conference rooms for meeting with clients outside of their homes. In these cases, the agents […]
After the devastating series of storms in 2004 and 2005, Florida has enjoyed a run of essentially storm-free years. This has led to improved conditions in the private insurance market, and consequently to reductions in the policy count of Citizens Property Insurance Corporation. Citizens therefore expects that it in 2015 it will be able to […]
Beginning in 2015, the National Hurricane Center will be experimenting with a new weather advisory system that it intends will become fully operational by 2017. The new system will include publishing storm surge watches and warnings independently of those associated with wind damage. The advisories will include maps in which areas marked in red are […]
Citizens Property Insurance Corporation recently announced that it had 727,122 policies as of November 30, 2014. This is about half of Citizens’ policy count a few years ago when it reached a high of about 1.4 million policies. The Citizens portfolio consists predominantly of personal residential policies, although it continues to have significant commercial exposure […]
The Office of Insurance Regulation has approved a statewide average rate decrease of 5.2% for workers’ compensation insurance effective as of January 1, 2015. The National Council on Compensation Insurance (NCCI) initially filed for a 2.5% decrease in August but later amended the filing to provide for a 3.3% decrease. The OIR reviewed the filing and […]
