The Florida Office of Insurance Regulation has issued Informational Memorandum OIR-15-04M relating to “Use of Price Optimization in Premium Determination.” The memorandum concludes that insurers using so-called price optimization should submit filings to eliminate the use of those criteria, and going forward insurers should not use price optimization in their rate filings. The OIR notes […]
The Senate Banking & Insurance Committee has advanced a bill intended to encourage private market flood coverage in Florida. The bill would allow insurers to offer flood coverage as stand alone policies or as endorsements to existing policies. At a minimum, the flood policies would have to include the deductible options available from the National […]
