Florida Regulator Outlines How Industry Can Help Insureds During COVID-19 Response
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informational memorandum
OIR Issues Coronavirus Memorandum
The Florida Office of Insurance Regulation (OIR) issued informational memorandum OIR-20-01M to health insurers and HMO’s related to coronavirus. The memorandum directs health plans to use available channels to communicate with policyholders, agents, providers and employees. These communications should include information disseminated by the Centers for Disease Control and Prevention (CDC) and the Florida Department […]
Officials Focus on Open Michael Claims
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 […]
OIR Memorandum Addresses Price Optimization
The Florida Office of Insurance Regulation has issued Informational Memorandum OIR-15-04M relating to “Use of Price Optimization in Premium Determination.” The memorandum concludes that insurers using so-called price optimization should submit filings to eliminate the use of those criteria, and going forward insurers should not use price optimization in their rate filings. The OIR notes […]
OIR Memorandum Addresses Trade Secrets in I-File
The Office of Insurance Regulation has issued informational memorandum OIR-14-02M notifying insurers of changes to the I-File system relating to the handling of trade secret documents. The I-File system accepts, tracks and makes publicly available insurers’ form and rate filings. However, certain required documents might be trade secrets, which can be protected in the I-File system and […]
OIR Releases Informational Memorandum on PIP Fee Schedule
The Office of Insurance Regulation (OIR) has released Informational Memorandum OIR-12-06M to all insurers writing motor vehicle insurance in Florida. The memorandum inteprets a provision of HB 119 on PIP reform providing that the applicable fee schedule is the Medicare fee schedule in effect on March 1 of the year in which services are rendered […]
OIR Provides Guidance on PIP Fee Schedule
The Florida Office of Insurance Regulation (OIR) issued Informational Memorandum OIR-12-02M earlier this month providing guidance to insurers and they implement new Personal Injury Protection reforms. The Informational Memorandum coincided with Governor Scott’s signing HB 119 into law. The Informational Memorandum points out that one of the new provisions of the PIP reform requires insurers […]
OIR Issues Excess Profits Memorandum
The Florida Office of Insurance Regulation (OIR) has issued informational memorandum OIR-12-03M discussing the recent removal of the workers’ compensation excess profits reporting requirement. The legislature passed HB 941 this year eliminating the excess profits law’s application to workers’ compensation insurance. Governor Scott has now signed this bill into law. As a result, the OIR […]
OIR Issues Memorandum on Disaster Response Coordination
The Florida Office of Insurance Regulation has issued an informational memorandum (OIR-11-02M) informing property and casualty insurers of Partners in Recovery, a not-for-profit organization intended to expedite the settlement of property insurance claims. The program coordinates disaster preparation and response communications among the Department of Financial Services (DFS), Office of Insurance Regulation (OIR), emergency management agencies, […]
OIR Memorandum Addresses Health Insurance Requirements
The Florida Office of Insurance Regulation has issued Informational Memorandum OIR-10-03M relating to the recent federal health insurance legislation. The memorandum identifies the following changes as being effective September 23, 2010, and applicable to a group health plan and a health insurance issuer offering group or individual health insurance coverage. Policies issued on or after September 23, […]