Republican Senator Jeff Atwater and Democrat Loranne Ausley did not have to await Tuesday’s primaries to know they would be facing off in the race to follow Alex Sink as Florida’s Chief Financial Officer. Although it initially appeared Atwater would have a primary opponent, Atwater’s formidable fundraising and campaigning long ago sealed his place as the […]
The National Council on Compensation Insurance (NCCI) has filed a proposed 8.3% workers’ compensation rate increase with the Office of Insurance Regulation with an effective date of January 1, 2011. The proposed change change consists of a 3.4% increase due to a change in experience, a 3.9% increase due to a change in trend, and a […]
A Citizens Property Insurance Corporation committee recently discussed results of its reinspection program for wind mitigation features. The reinspection of 1500 personal residential risks has identified changes in data for 90% of the policies and changes in premiums for 75% of the policies. The categories of roof cover, roof deck attachment, roof to wall attachment […]
The Financial Services Commission has republished notice of proposed rulemaking relating to an insurer report card rule. The current version of the rule was scheduled to be presented to the Financial Services Commission at its August 26, 2010 meeting. However, due to procedural requirements, the rule will not be presented to the FSC at that […]
Insurance Commissioner Kevin McCarty has written a letter to The Heartland Institute responding to recent suggestions that the Office of Insurance Regulation should have made information about Northern Capital Insurance Company available to the public sooner than it did. Northern Capital was subject to administrative supervision by the Office of Insurance Regulation, but the company’s financial […]
Proposed administrative rules proving a grading system for an insurer report card are scheduled to be presented to the Financial Services Commission for adoption on August 26, 2010. The Office of the Insurance Consumer Advocate published the rules last year and held workshops and hearings to gather input from interested parties. Several insurer groups raised […]
The Florida legislature left Tallahassee nearly as quickly as they arrived last week. Governor Crist called the special session for the purpose of potentially adopting a constitutional amendment prohibiting oil drilling. The amendment could have been placed on Florida’s ballot this fall. However, opponents of adopting such an amendment point out that drilling is already prohibited […]
The Banking and Insurance Committee of the Florida Senate has announced its interim projects in anticipation of the 2011 legislative session. The committee staff will conduct project 2011-104 relating to sinkhole insurance, with a report due by October 1, 2010. The project summary notes that Florida has a large number of sinkholes, and problems in […]
On Thursday, July 8, Governor Charlie Crist called for a special session to consider adding a constitutional amendment on the November ballot banning offshore drilling in Florida waters. The session would run from July 20 to July 23. “I feel a compelling duty to protect Florida,” Crist said in his press conference from Tallahassee. It […]
The Florida Supreme Court on June 17, 2010, rendered a decision in Curd v. Mosaic Fertilizer, LLC, — So.3d –, 2010 WL 2400382 (Fla.), relating to liability for damages arising from the release of pollutants. In the case, the Court considered the following two questions certified to it by the Second District Court of Appeal […]