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Chief Financial Office Jeff Atwater has suggested that the Governor and Cabinet, serving as the Financial Services Commission, oversee the selection of an Inspector General to review Citizens Property Insurance Corporation. Atwater also wants the Inspector General to report to the Financial Services Commission for at least 12 months. Governor Rick Scott recently called for […]
As the 2013 legislative session approaches, the respective insurance committees of the Florida Senate and House of Representatives are beginning to address issues related to Citizens Property Insurance Corporation. Citizens continues to take on 8000 new policies a week, and notwithstanding substantial depopulation activity late this year its policy count will drift back up as […]
The Florida Office of Insurance Regulation has issued a revised Order numbered 130176-12 relating to exempting certain property and casualty insurance forms from the statutory review and approval process. The new Order replaces Order 126368-12 issued June 25, 2012. Under the new order, insurance company officials may continue to submit certifications with their form filings […]
Citizens Property Insurance Corporation president Barry Gilway recently commented that Citizens has the worst coverage in the marketplace, but it is not deterring about 8000 Floridians a week from obtaining coverage with the residual market. Gilway and Citizens are working toward a better method of allowing interested companies to write policies before they enter Citizens in […]
At the recommendation of the Florida Insurance Guaranty Association (FIGA), the Office of Insurance Regulation has issued an order levying an assessment of 0.9% of net direct written premiums for FIGA’s “All Other” account. This account encompasses most lines of property and casualty insurance other than auto and workers’ compensation. For example, it includes fire, […]
The State of Florida has not moved forward with efforts to create a health insurance exchange under the Affordable Care Act. However, with President Obama winning another term and the Affordable Care Act being here to stay, Florida is now considering a range of health care issues. Governor Rick Scott recently requested the opportunity to meet with federal […]
The Florida Office of Insurance Regulation (Office) has unveiled a new resource for allowing interested persons to provide input on life and health insurance form and rate filings. “Hearing the opinions of Florida’s consumers about proposed changes to their insurance is considered a top priority of the Office. This feature presents a suitable forum for those opinions […]
The Office of Insurance Regulation has named Jack McDermott its new Director of Life & Health Product Review. He succeeds Suzetta Furlong, who is leaving OIR to take a position with the Division of State Group Insurance at the Department of Management Services. McDermott has held several roles at the OIR, most recently serving as […]
The 2012 election cycle is over, or at least heading that direction as a few races remain subject to possible recounts. This paves the way for the House and Senate to hold an organizational session to swear in members and transition leadership to new Senate President Don Gaetz and Speaker of the House Will Weatherford. […]
The Office of Insurance Regulation (OIR) has released Informational Memorandum OIR-12-06M to all insurers writing motor vehicle insurance in Florida. The memorandum inteprets a provision of HB 119 on PIP reform providing that the applicable fee schedule is the Medicare fee schedule in effect on March 1 of the year in which services are rendered […]
