News & Updates

Commissioner McCarty

OIR Seeking National Flood Insurance Ratemaking Data

OIR Seeking National Flood Insurance Ratemaking Data

Insurance Commissioner Kevin McCarty has requested that the Federal Emergency Management Agency (FEMA) provide data relating to how the National Flood Insurance Program (NFIP) sets rates.  McCarty has commented that even without seeing the data, it appears that the NFIP’s rates would not satisfy the Office of Insurance Regulation’s standard that rates not be unfairly […]

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David Altmaier Named Next Deputy Commissioner for Property and Casualty Insurance

David Altmaier Named Next Deputy Commissioner for Property and Casualty Insurance

The Office of Insurance Regulation announced that David Altmaier will become the Deputy Commissioner for Property & Casualty insurance effective March 9, succeeding Rich Koon who has decided to pursue an opportunity in the private sector.  In a release to colleagues within the Office of Insurance Regulation, Commissioner McCarty said: Rich Koon, Deputy Commissioner of […]

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Commissioner Welcomes Large Crowd to OIR Conference

Commissioner Welcomes Large Crowd to OIR Conference

Insurance Commissioner Kevin McCarty welcomed a large group to Tallahassee on October 30, 2014, for the Office of Insurance Regulation’s 2014 industry conference entitled, “Navigating the Changing Insurance Environment.” The conference drew a large number of participants in person at the Florida State University Turnbull Conference Center, and others participated remotely through a live webcast. […]

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Commissioner Discusses Misalignment Between Rates and Mitigation Discounts

Commissioner Discusses Misalignment Between Rates and Mitigation Discounts

Florida Insurance Commissioner Kevin McCarty presented ideas for “principle-based” insurance reform to the Senate Banking and Insurance Committee this afternoon.  In his presentation, Commissioner McCarty identified several reasons the private market has difficulty competing with Citizens Property Insurance Corporation.  Among these, the Commissioner noted a “mismatch” between primary rate levels and the mitigation discounts for […]

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Session Drawing to a Close

Session Drawing to a Close

The 2012 legislative session is rapidly drawing to a close–  at least the regular session, anyway.  The session is scheduled to end tonight, and lawmakers will work at a frenzied pace to address bills that are bouncing back and forth between the chambers. No Florida session would be complete without a property and casualty insurance […]

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OIR, Commissioner McCarty Respond to Healthcare Reforms

OIR, Commissioner McCarty Respond to Healthcare Reforms

The Office of Insurance Regulation recently announced that Florida Insurance Commissioner Kevin McCarty joined regulators from other states in voting to approve the NAIC’s recommended language for the Medical Loss Ratio (MLR) definition under the federal Affordable Care Act.  Due to the definition of medical expenses, health insurance agent premiums were not included in the definition of […]

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OIR Discusses Confidentiality of Administrative Supervision

OIR Discusses Confidentiality of Administrative Supervision

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 […]

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