Place premium on consumers when picking insurance regulator
Kevin McCarty, Insurance Regulation News, Florida Cabinet, Financial Services Commission, OIR, insurance commissioner, Insurance Regulation
News & Updates
Financial Services Commission
Editorial: Keep consumers first under new Florida insurance chief
Kevin McCarty, Insurance Regulation News, Florida Cabinet, Governor Rick Scott, Financial Services Commission, OIR, Insurance Regulation
Florida Insurance Commissioner McCarty to Resign After 12 Years in Job
Kevin McCarty, Insurance Regulation News, Financial Services Commission, insurance commissioner, Insurance Regulation
Florida chief insurance regulator Kevin McCarty resigns
Kevin McCarty, Insurance Regulation News, Financial Services Commission, insurance commissioner, Insurance Regulation
Financial Services Commission Responsible for New Commissioner Appointment
Florida Insurance Commissioner Kevin McCarty’s announcement that he is resigning effective May 2, 2016, puts Florida in a position it has been in only once before– needing to appoint an insurance commissioner to lead the Florida Office of Insurance Regulation (OIR). McCarty is the first, and only, insurance commissioner appointed after the restructuring of the […]
2014 Saw Significant Property and Casualty Issues
As 2014 comes to a close, several of the issues that commanded considerable attention during the year reached their resolution and set the framework for 2015 ahead. When we all return from the holidays, the legislative committee weeks will be upon us and the 2015 legislative session will begin before we know it. However, before […]
Election Night Brings No Changes to Financial Services Commission
The Governor and Cabinet serve as a collegial governing body known as the Financial Services Commission, which has rulemaking authority for the Office of Insurance Regulation. In addition, the FSC designates the insurance commissioner by a majority vote, with the Governor and Chief Financial Officer required to be on the same side. After last night’s elections, […]
SB 1672 Makes Minor Adjustments to Citizens
As with prior legislative sessions, the 2014 session began with a variety of competing proposals affecting Citizens Property Insurance Corporation, many of which were intended to continue efforts to significantly reduce the size of the residual market. However, by the end of the session, the more ambitious proposals such as allowing surplus lines insurers to […]
Atwater Wants Cabinet Oversight of Citizens Inspector General
Chief Financial Office Jeff Atwater has suggested that the Governor and Cabinet, serving as the Financial Services Commission, oversee the selection of an Inspector General to review Citizens Property Insurance Corporation. Atwater also wants the Inspector General to report to the Financial Services Commission for at least 12 months. Governor Rick Scott recently called for […]
OIR Moving Forward with Penalty Rule Repeal
The Office of Insurance Regulation has decided to move forward with repealing the so-called “penalty rule” (69O-142.011 “Insurer Conduct Penalty Guidelines”) despite uniform support among industry representatives for keeping the rule, with appropriate revisions. The existing rule categories many types of violations of the insurance code, informing the public and the insurance industry about the […]