Florida insurance fund strongest ever for storm season
hurricane season, Florida Hurricane Catastrophe Fund, Insurance Regulation News, property insurance
News & Updates
Florida Hurricane Catastrophe Fund
Legislature Revises Forms Certifications and Rate Exemptions
The legislature altered Florida’s form and rate filing statutes in SB 468. Perhaps most significantly, the legislature specified that a forms certification process similar to the one currently in effect by OIR order will continue for commercial property and casualty insurance. However, personal lines and workers’ compensation are specifically carved out of the statutory change […]
FHCF Right-Sizing Debate Results in No Changes
The legislature entered the 2013 session talking about reducing the amount of reimbursement capacity provided by the FHCF. It leaves Tallahassee without changing the limits at all, but not for lack of thorough discussion of the issue. Lawmakers interested in reducing the state’s assessment exposure urged a reduction in the FHCF to be phased-in over […]
Citizens-Lite Bill Heads to Governor
After months of committee meetings and discussions, the Florida legislature reached compromises on changes to Citizens Property Insurance Corporation in SB 1770. The bill now heads to Governor Scott’s desk for review. The months leading up to the 2013 legislative session included discussion of far-reaching proposals that would aggressively restore Citizens to its role as […]
FHCF Right-Sizing Becomes Bite-Sized
Discussions about the proper size of the Florida Hurricane Catastrophe Fund have been intense throughout the 2013 legislative session. The FHCF proposed last year that it should be reduced in size to better ensure it can meet its reimbursement obligations to insurers. However, last year’s proposal called for changes that were too significant and would […]
Omnibus Bill Advances Through House, Goes to Senate
The so-called omnibus bill (HB 635) has passed the House of Representatives by a 100-17 margin and has been referred to the Florida Senate. The bill addresses a wide range of insurance matters, consisting primarily of issues that generally are thought not to be controversial. The range of issues covered by the bill includes: Extending […]
Cat Fund bill moves in House, but stalled in Senate
hurricane season, Florida Hurricane Catastrophe Fund, Florida Legislature, Insurance Regulation News, property insurance
Bill Newton: Support Cat Fund reform bill
hurricane season, Florida Hurricane Catastrophe Fund, Florida Legislature, Insurance Regulation News, property insurance
Scope of FHCF Still Unclear as Session Goes On
The size of the Florida Hurricane Catastrophe Fund in future years continues to be a widely discussed issue in the current legislative session. We have now reached the halfway point but it is still unclear how this issue will play out. Jack Nicholson of the FHCF advocated a reduction in the FHCF’s size last year […]
Tackle financial exposure to storms
Citizens Property Insurance Corporation, hurricane season, Florida Hurricane Catastrophe Fund, Florida Legislature, Insurance Regulation News, property insurance