Bradley Kading: Let private market carry Florida’s reinsurance risk
property insurance, Insurance Regulation News, Florida Hurricane Catastrophe Fund, Office of Insurance Regulation, Citizens Property Insurance Corporation
News & Updates
Florida Hurricane Catastrophe Fund
Cat Fund fight could have huge impact on condo insurance rates
property insurance, Insurance Regulation News, Florida Legislature, Florida Hurricane Catastrophe Fund, hurricane season
Rep. Fasano questions Cat Fund contract over condo coverage
condominiums, property insurance, Insurance Regulation News, Florida Legislature, Florida Hurricane Catastrophe Fund
Governor Signs Property Bill
Governor Rick Scott has signed SB 1770 into law. At the outset of the 2013 legislative session, SB 1770 contained an ambitious set of reforms designed to reduce the size of Citizens Property Insurance Corporation and reduce the degree to which it competes with the admitted market. The final package, however, contained a milder set of compromise […]
Florida Chamber: Catastrophe Fund at risk
property insurance, Insurance Regulation News, Florida Legislature, Florida Hurricane Catastrophe Fund, hurricane season
Florida insurance fund strongest ever for storm season
property insurance, Insurance Regulation News, Florida Hurricane Catastrophe Fund, hurricane season
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 […]