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In December 2019, Joe Petrelli of Demotech, Inc. sent a letter of Barry Gilway of Citizens Property Insurance Corporation describing several concerns with Florida’s residential property insurance market. Petrelli mentioned that several insurers could see downgrades to their Financial Stability Ratings. He acknowledged that last year’s assignment of benefits (AOB) reforms might be beneficial later. […]
With this year’s legislative session nearly upon us, the holiday season soon will seem like just a blur. The Florida legislature has one 60-day regular session each year. This year, the session begins on January 14, 2020. The legislature tackled assignment of benefits (AOB) reform in the 2019 session. The new law took effect mid-year, […]
Florida Insurance Commissioner David Altmaier has been named President-Elect of the National Association of Insurance Commissioners (NAIC), effective January 1, 2020. Commissioner Altmaier has been Vice President of the NAIC during 2019. “I am honored to have been chosen as President-Elect of the NAIC. This year, we have made significant progress on many key issues. […]
The 2019 Atlantic Hurricane Season has come to a close with little direct impact on Florida. This is welcomed relief after most areas of the state experienced damage in at least one of the three preceding years. The relative lack of hurricane activity in Florida this year might have more to do with luck than […]
The Florida Department of Financial Services (DFS) reminds adjusting firms they must designate a primary adjuster. Adjusting firms must submit form DFS-H2-6364 for this purpose. A firm must submit its initial form before it commences operations in Florida. Currently, adjusting firms send the completed forms by email to Adjusters@MyFloridaCFO.com. The same form is used to designate, […]
The Florida Hurricane Catastrophe Fund (“FHCF”) is in the process of adopting rules for the 2020 hurricane season. The FHCF has scheduled a rule hearing for October 18 to discuss proposed changes to rule 19-8.010. This rule annually adopts the then-current version of the FHCF contract. Among other changes, the 2020 contract will incorporate the […]
Florida State University received good news recently when U.S. News & World Report named it one of the Top 20 public universities in the country. FSU checked in at #18 after being ranked 26th in the prior year’s ranking. FSU has climbed steadily in these rankings over the last few years, from the 40’s to […]
Repealing Florida’s no-fault (PIP) auto insurance system again will command legislative attention in the 2020 legislative session. Although 2020 once seemed so far away, the legislature already is having committee meetings in anticipation of the session’s January start. Florida’s Personal Injury Protection (PIP) system has drawn significant criticism in recent years. The legislature has tried to […]
It’s hard to believe September is here. It seems like the 2019 legislative session just concluded. In reality, though, the 2020 session is just around the corner. The 2020 session will have an early start date—it runs from January 14 through March 13 (assuming it ends on time). The early start date means committee meetings will […]
Hurricane Dorian’s slow forward movement and uncertain path continue to keep Florida on high alert, particularly on the east coast. Last week, Dorian was a tropical storm that appeared as if it might stall and never gain hurricane strength. Models also varied widely in their guesses as to the storm’s future direction. Dorian overcame this […]
