The Florida Association of Counties announced this week that it would challenge HB 5301, which passed in the recent legislative session and has been signed into law by Governor Rick Scott. Three counties (Pasco, Manatee and Leon) have indicated they will join the association’s suit and other counties also are expected to do so. The counties […]
The key Senator and Representative who promoted the Florida Hurricane Catastrophe Fund (FHCF) right-sizing proposal expressed disappointment that the bills did not receive more attention in the recently concluded session. At least in the case of those who are eligible to return to the legislature next year, they vow to keep pushing for the reform. […]
The Florida Office of Insurance Regulation (OIR) has created a process for insurers writing many lines of commercial insurance to use new or revised forms without having to obtain the OIR’s prior approval. The OIR has adopted an Order dated April 9, 2012 describing the exemption from the forms review process. The process is optional, […]
The efforts of a Tampa company to solicit chiropractors to circumvent PIP reforms has drawn adverse reactions from legislators and insurance regulators. Governor Scott has not yet acted on the bill passed at the end of the 2012 legislative session, but he worked hard with legislators to pass the bill and is expected to sign […]
Governor Rick Scott has signed a bill into law changing the way Citizens Property Insurance Corporation will levy assessments following a storm. The bill (HB 1127) had the support of the Office of Insurance Regulation, the Insurance Consumer Advocate, Citizens and the insurnace industry. Under the new law, Citizens will not levy regular assessment on the personal lines […]
One of the inevitable results of reforming an insurance system is that groups traditionally profiting from the system see their recoveries limited under the new law. This is the case with the Personal Injury Protection reforms passed by the Florida Legislature during the 2012 session. Before and during the session, policymakers called for reforms that […]
The Office of Insurance Regulation has announced it will hold a filing conference titled, “Successful Strategies for Business Development” on June 14, 2012. In past years, the OIR has held similar conferences relating to its form and rate filing processes, requirements and reviews. Details about the conference are being developed and are expected soon. Registration […]
The legislature passed a bill (HB 941) that included a provision eliminating the excess profits calculation for workers’ compensation and employer’s liability insurance. The excess profits provision, currently located at section 627.215, Florida Statutes, requires insurers to report their premiums, losses and expenses in the affected lines of business by July 1 of each year. […]
The Florida legislature did not adopt proposed changes to the size of the Florida Hurricane Catastrophe Fund during the 2012 session. Jack Nicholson of the FHCF developed a proposal he referred to as “right-sizing” the cat fund to ensure it has access to enough resources to pay promised reimbursements without regard to poor global market […]
After intense debate throughout the 2012 legislative session, the Florida House of Representatives and Senate reached a compromise on reforms for Florida’s Personal Injury Protection (PIP) auto insurance system. The bill and its reform proposals were the subject of considerable analysis and discussion prior to the session and throughout its two-month term. Insurance Commissioner Kevin […]