Insurance Commissioner updates senators on Michael claims, AOB reform
Florida Legislature, Insurance Regulation News, Florida Insurance Commissioner, David Altmaier, AOB, Hurricane Michael
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Florida Legislature, Insurance Regulation News, Florida Insurance Commissioner, David Altmaier, AOB, Hurricane Michael
The Florida Department of Financial Services (DFS) and Office of Insurance Regulation (OIR) encouraged insurers again this week to redouble efforts to resolve Hurricane Michael claims. Chief Financial Officer Jimmy Patronis asked Insurance Commissioner David Altmaier to update the status of the insurance industry’s Michael response. Commissioner Altmaier responded that about 15 percent of the […]
The Florida Hurricane Catastrophe Fund (FHCF) continues to anticipate it will be able to meet its $17 billion in contracted single-season capacity if the need arises. The FHCF projects its year-end 2019 fund balance will be $12.4 billion. Adding $1.7 billion in pre-event notes and an expected $1.0 billion in risk transfer (reinsurance), the FHCF projects […]
Department of Financial Services, Insurance Regulation News, insurance licensee, CFO Jimmy Patronis, Hurricane Michael
Insurance Regulation News, AOB Claims, property claims, assignment of benefit claims, CFO Jimmy Patronis, Hurricane Michael
Insurance Regulation News, property insurance, David Altmaier, Hurricane Michael, Citizens Property Insurance Corporation
Hurricane Michael has prompted several changes in the Office of Insurance Regulation’s recent and upcoming schedule. The OIR’s early focus has been on assisting policyholders in the affected areas. In addition, the OIR implemented its post-event loss reporting process. Insurers must report their numbers of claims and estimated loss amounts on a daily basis in […]
Insurance Regulation News, National Hurricane Center, Hurricane Michael, Cat 5 hurricane
property insurance, hurricane claims, Hurricane Michael, property losses, Office of Insurance Regulation, Insurance Regulation News
Office of Insurance Regulation, Insurance Regulation News, AOB Claims, property claims, Hurricane Michael