Florida policymakers, put consumers ahead of assignment of benefits abusers | Opinion
AOB, assignment of benefits, Florida Office of Insurance Regulation, Insurance Regulation News, Florida Legislature
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Florida Office of Insurance Regulation
Judge could give early win to companies over insurance law
life insurance proceeds, Florida Office of Insurance Regulation, Death Master File, Insurance Regulation News
Irma brings winds, floods and scammers
property insurance claims, Hurricane Irma, Florida Office of Insurance Regulation, Insurance Regulation News
Property insurance bill proposed in Florida Senate moves to committee
Hurricane Irma, AOB Claims, Florida Office of Insurance Regulation, property insurance, Insurance Regulation News, Florida Legislature
Lack of AOB Reform Likely to Put Pressure on Rates and Availability
After only limited committee discussions during the 2017 session, the Florida legislature failed to adopt reforms to this state’s “assignment of benefits” problem. The Florida Office of Insurance Regulation and Citizens Property Insurance Corporation offered substantial testimony before the legislature regarding the nature of the problem, steps the legislature could take to fix the problem, […]
Insurance Premium Taxes Under Discussion in Florida and Connecticut
Policymakers in Florida and Connecticut appear to be moving in different directions as they evaluate the impact of insurance premium taxes in their respective states. Florida law currently provides for a salary credit against the insurance premium tax, which serves to partially offset insurers’ premium tax obligations based upon the salaries they pay to Florida […]
New Year Brings Lower Coverage Limits in Citizens
The maximum personal residential coverage limits available from Citizens Property Insurance Corporation decreased as of January 1, 2017, in accordance with a law passed in 2013 providing for a gradual step-down in the limits. Effective January 1, the following risks are no longer eligible as new business or renewals: A structure that has a dwelling replacement […]
Citizens Coverage A Reductions Take Effect
As required by a law passed in 2013, the maximum Coverage A amounts for Citizens Property Insurance Corporation’s personal residential coverage have been reduced again effective January 1, 2017. The following new business and renewals for personal residential risks are no longer are eligible for coverage in Citizens: A structure that has a dwelling replacement […]
OIR Issues Final Order Approving Workers Compensation Rates
The Florida Office of Insurance Regulation has issued a Final Order approving the National Council on Compensation Insurance’s overall statewide average rate increase of 14.5% for workers’ compensation insurance. The rate increase applies to both new and renewal workers’ compensation insurance policies effective in Florida as of December 1, 2016. NCCI initially submitted a filing […]
Further Reduction in Citizens Coverage A Coming January 1
As required by a law passed in 2013, the maximum Coverage A amounts for Citizens Property Insurance Corporation’s personal residential coverage will be reduced again effective January 1, 2017. Effective at the beginning of net year, the following new business and renewals for personal residential risks are no longer are eligible for coverage in Citizens: A structure […]