Commentary: Private insurance market is ready for flood options
reinsurance costs, OIR, flood insurance, Citizens Property Insurance Corporation, Insurance Regulation
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reinsurance costs, OIR, flood insurance, Citizens Property Insurance Corporation, Insurance Regulation
The Florida legislature adopted SB 542 intended to encourage admitted market insurers to write personal residential flood insurance programs. If approved by the Governor, the bill will make changes to Florida’s rating law and modeling review process to facilitate private flood products. Section 627.062, Florida Statutes, lists factors to be considered by the Office of […]
Florida Legislature, flood insurance, property insurance, Florida Hurricane Catastrophe Fund, Office of Insurance Regulation, Kevin McCarty, Citizens Property Insurance Corporation, Insurance Regulation
The Florida Senate has been advancing a bill intended to increase private market interest in making flood insurance coverage available to Floridians. However, in light of the complexities of the issue, some Senators are suggesting that recent substantial revisions to the bill should be sent back to the Banking and Insurance Committee for further review. […]
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 […]
The beginning of a new year always brings with it an acceleration of Florida’s consideration of key public policy issues affecting the insurance industry. Activity in Tallahassee slows down in the second half of December, soon followed by the realization that the next legislation will be here quickly. For the property insurance industry, this means […]