Insurance regulation – only one state gets an A+
Insurance Regulation Report Card, Insurance Regulation News, Citizens Property Insurance Corporation
News & Updates
Citizens Property Insurance Corporation
Citizens Discusses Financial Soundness Following Irma
Citizens Property Insurance Corporation recently updated its Hurricane Irma response and discussed the financial impact of the storm as the 2017 hurricane season has now drawn to a close. Citizens reports that Irma will produce an estimated $1.2 billion in insured losses, but points out that the losses remain well within its claims-paying capacity. Citizens has […]
Irma Analysis: Insurer Financial Stress Unlikely If Early Loss Estimates Hold
Hurricane Irma, Insurance Regulatory News, Florida insurance market, property and casualty insurance, reinsurance, Citizens Property Insurance Corporation
Despite last year’s hurricane damage, insurance companies sticking with Florida clients
Insurance Regulatory News, property insurance, hurricane season, Citizens Property Insurance Corporation
Editorial: Don’t delay any longer in cracking down on insurance abuse
Insurance Regulatory News, assignment of benefit claims, AOB Claims, property insurance, Citizens Property Insurance Corporation
Citizens to ask Florida for insurance-rate hikes, blaming water claims
Insurance Regulatory News, water damage claims, property insurance, Citizens Property Insurance Corporation
Lack of AOB Reform Likely to Put Pressure on Rates and Availability
After only limited committee discussions during the 2017 session, the Florida legislature failed to adopt reforms to this state’s “assignment of benefits” problem. The Florida Office of Insurance Regulation and Citizens Property Insurance Corporation offered substantial testimony before the legislature regarding the nature of the problem, steps the legislature could take to fix the problem, […]
Key Insurance Issues Remain Unresolved as Session Progresses
As the Florida legislature enters the final few weeks of the 2017 regular session, several important insurance issues remain unresolved. One of the most prominent insurance issues in need of a legislative solution is the “assignment of benefits” issue. Insurance Commissioner David Altmaier, Citizens Property Insurance Corporation chief executive officer Barry Gilway, and a number […]
OIR Names Deputy Commissioners
The Florida Office of Insurance Regulation has announced new deputy commissioners for property and casualty insurance and for life and health insurance. The OIR has named Susanne Murphy as the deputy commissioner for property and casualty insurance. Ms. Murphy has substantial experience in insurance regulation, as well as with Florida’s residual property insurance market Citizens […]
Citizens Updates Assumption Process
Citizens Property Insurance Corporation is changing the depopulation process for personal lines assumptions taking place on and after February 21, 2017. The changes are intended to increase policyholder choice and bring greater efficiency to the process for policyholders, agents, takeout companies and Citizens. The new process is based, in part, changes required by HB 931, which passed […]