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As 2013 draws to a close, so will the process by which personal lines insurers may certify their forms’ compliance with the Florida Insurance Code. Through a series of orders, the Office of Insurance Regulation has allowed property and casualty insurers in most lines of business to certify their forms’ compliance with applicable requirements, thereby […]
The Florida Office of Insurance Regulation has issued a new administrative order extending the opportunity to certify personal lines property and casualty insurance forms through December 31, 2013. The OIR previously issued orders allowing insurers to certify both commercial lines and personal lines forms, except for workers’ compensation forms. A newly enacted statute (section 627.4102) takes effect for […]
Under orders issued by the Office of Insurance Regulation last year, property and casualty insurers may certify their product forms’ compliance with the insurance code as an alternative to submitting them to the OIR for prior review and approval. The OIR’s most recent order, issued in December 2012 and numbered 130176-12, covers both commercial and […]
The Florida legislature in Senate Bill 468 created a new section 627.4102, Florida Statutes, relating to the informational filing of property and casualty product forms. The bill was approved by Governor Scott and became Chapter Law 2013-66. The new statute takes effect July 1, 2013. It allows insurers to certify the compliance of their property […]
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 […]
By some standards, there were fewer blockbuster issues in the Florida insurance market in 2012 than in some prior years. After all, this was not a year in which the legislature needed to tackle workers’ compensation or medical malpractice reform, and efforts at bad faith reform stalled fairly early in the legislative session. Florida thankfully […]
