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FSU Catastrophe Center Discusses Mitigation Discounts

FSU Catastrophe Center Discusses Mitigation Discounts

The Florida Catastrophic Storm Risk Management Center has released a report discussing implementation of Florida’s mitigation discount program for residential property insurance.  This report is the third in a series of recent studies identifying significant concerns with the way the current system of mitigation discounts has affected the residential property insurance market.  The Florida Commission […]

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Consumer Advocate Releases Report

Consumer Advocate Releases Report

The Consumer Advocate released his report to the legislature entitled “Claims Dispute Resolution Roundtable and Alternative Dispute Resolution Roundtable.”   The report follows two separate “roundtable” discussions held by the Consumer Advocate, the first regarding claims disputes and the second pertaining to alternative dispute resolution. The report notes the appraisal process has become very costly and […]

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OIR Proposes Changes to Model Audit Rule

OIR Proposes Changes to Model Audit Rule

The OIR has announced a notice of proposed rulemaking for Rule 69O-137.002, Model Audit Rule.  If requested a hearing will be held on April 23, 2010. Some highlights of the rule, which attempts to match Florida’s rule with the NAIC model.  1.  It now expressly requires: (a) Communication of Internal Control Related Matters in an […]

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EEOC and Walmart Settle: $11.7 Million

EEOC and Walmart Settle:  $11.7 Million

Earlier this month, the EEOC announced that Walmart Stores will  pay $11.7 million in back wages and com­pen­satory damages, up to $250,000 in administration fees and will furnish other relief, including jobs, to settle a sex discrimination lawsuit filed by the EEOC. According to the EEOC’s lawsuit, Walmart’s  London, Ky., Distribution Center denied jobs to female applicants […]

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PIP Insurance Fraud The Subject Of A Tampa Press Conference By CFO Sink And Pending Legislation

PIP Insurance Fraud The Subject Of A Tampa Press Conference By CFO Sink And Pending Legislation

Staged accidents, phony billing, and other types of personal injury protection (PIP) insurance fraud continue to be a major problem in Florida and the investigation and prosecution of PIP fraud is a high priority for the state’s Division of Insurance Fraud.  Those were the main messages of a March 5, 2010, press conference held in […]

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Rate Process, Depreciation Holdback Among Key Legislative Issues

Rate Process, Depreciation Holdback Among Key Legislative Issues

Each year at the outset of the legislative session, there is considerable speculation as to proposals that might pass and those that will fall by the wayside.  Some proposals evoke strong feelings from opposing sides of the debate, as is likely to be the case in 2010 with proposals like the “consumer choice” bill that […]

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RTYC Website Garners Silver ADDY Award

RTYC Website Garners Silver ADDY Award

Radey Thomas Yon & Clark congratulates Taproot Creative, developer of our www.radeylaw.com website, on its recent ADDY award in the interactive media division.  Taproot Creative submitted www.radeylaw.com for consideration as an example of its website development work, and the site won a silver ADDY award from the American Advertising Federation. Radey Thomas Yon & Clark […]

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EEOC Performance Results: Investigations Still Slow

EEOC Performance Results: Investigations Still Slow

As many observers noted, the EEOC’s Performance Results for the FY 2009 Performance and Accountability Report (PAR) were released toward the end of last year.  The PAR is based on the EEOC’s current modified Strategic Plan for FY 2007 through FY 2010 which was approved by the Commission in 2008. The current strategic plan contained […]

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FHCF Bill on Fast Track

FHCF Bill on Fast Track

Senator Garrett Richter’s Cat Fund bill (CS/SB 1460) sailed through the Banking and Insurance Committee.  The bill addresses the accounting problems insurers have encountered with the contract year change made in statutory amendments last year.  The bill will require companies to execute reimbursement agreements in March, but provide that the contract year will still run […]

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OIR Holds Workshop On Workers’ Comp Excess Profits Rule; Few Details Emerge

OIR Holds Workshop On Workers’ Comp Excess Profits Rule; Few Details Emerge

On February 22, 2010, the Office of Insurance Regulation held a workshop on potential revisions to the workers’ compensation insurance excessive profits rule (69O-189.007, F.A.C.) and its incorporated Excessive Profits Reporting Form (OIR-B1-15).  The Office is engaging in rulemaking as the result of an agreement reached with the petitioner in an ongoing administrative law rule […]

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