News & Updates

FIGA

News from the Florida Surplus Lines Service Office

News from the Florida Surplus Lines Service Office

On September 30, 2011, The Florida Surplus Lines Service Office (FSLSO) sent notice of two changes.  The first relates to the EMPA tax (Emergency Management Preparedness Assistance).  As of October 1, 2011 this tax gets paid to the Florida Division of Emergency Management as a result of name changes and reorganizations implemented by the Governor.   […]

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Main Property Bill Addresses Sinkhole Concerns

Main Property Bill Addresses Sinkhole Concerns

The current sinkhole claims crisis was one of the primary property insurance issues in the 2011 session.  Insurers have paid more than $1 billion in sinkhole claims so far according to an Office of Insurance Regulation data call.  Unfortunately, reviews found that up to 3/4 of policyholders filing these claims don’t make repairs. This has […]

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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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New Law Revises FIGA Recoupment Process

New Law Revises FIGA Recoupment Process

A bill passed in the 2010 legislative session relating to recouping Florida Insurance Guaranty Association assessments will become law effective July 1, 2010.  The new law (Chapter Law 2010-49) streamlines the process by which insurers may recoup assessments levied by FIGA.  An insurer seeking to recoup an assessment will make an informational filing with the […]

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