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The Office of Insurance Regulation has issued an order adopting its profit and contingency factors for 2013. As set forth in the order, the OIR publishes the profit and contingency factors for insurers to use of they are unable to produce credible profit and contingency factors from their own data. The factors for key lines […]
Senator Wilton Simpson has filed a bill that would create a “Sinkhole Stabilization Repair Program” within Citizens Property Insurance Corporation. Senate Bill 416 would encompass sinkhole claims filed against Citizens and would require that the land and structure be stabilized by making repairs to the foundation of the damaged structure. The program would require repairs to be made by Citizens-approved contractors. The bill […]
The start of today’s meeting of the Senate Banking & Insurance Committee included an announcement from chairman David Simmons that Steve Burgess, the committee’s staff director, will be leaving to become Florida’s Insurance Consumer Advocate. Burgess has held the consumer advocate position previously, but most recently has been the committee’s staff director for the last five years. […]
David Simmons, chairman of the Senate Banking & Insurance Company, is expected to bring up a proposal for replacing PIP with mandatory bodily injury liability insurance at today’s committee meeting. Senator Simmons has scheduled PIP as a major part of today’s meeting, although no vote is expected on any proposal today. Possible topics arising from an alternative proposal include bodily […]
The Florida Office of Insurance Regulation announced that Rebecca Matthews will serve as its Interim Chief of Staff. Ms. Matthews currently serves as the Deputy Chief of Staff. Matthews succeeds Audrey Brown who had served as Chief of Staff since 2007. Ms. Matthews joined OIR in 2008. Her responsibilities have included government affairs, including legislative and Cabinet affairs, market research and […]
The off-again, on-again Personal Injury Protection (PIP) reforms from 2012 are in effect again. The First District Court of Appeal ruled this week that the plaintiffs challenging the PIP reforms lack standing to question the new law’s constitutionality. Accordingly, the court reversed the effect of an earlier non-final order temporarily enjoining the Florida Office of […]
Governor Rick Scott, Attorney General Pam Bondi and Chief Financial Officer Jeff Atwater announced that Florida will file an amicus brief in support of the Mississippi Department of Insurance’s suit seeking to delay implementation of rate increases in the federal flood insurance program. Attorney General Bondi indicated that supporting the Mississippi action might result in a faster decision than if Florida were to […]
flood insurance, Travis Miller, Radey, Governor Rick Scott, National Flood Insurance Program, radeylaw, federal flood insurance program, FEMA, Homeland Security, Biggert-Waters, Department of Insurance
Rate increases in the federal flood insurance program are drawing the ire of politicians on both sides of the aisle in Tallahassee. Governor Rick Scott recently sent a letter to Florida U.S. Senators Bill Nelson and Marco Rubio stating that he is “deeply troubled” by the impact of flood insurance rate increases on Florida’s economy. […]
Former state Chief Financial Officer Alex Sink has decided against another run for Governor. Sink lost a close race against Rick Scott in 2010 and was considering another run in 2014. Sink said she instead intends to continue her work with a nonprofit organization she created to assist young entrepreneurs.” After careful consideration, I have […]
