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The Florida Supreme Court has announced that it will not hear an appeal relating to the 2012 revisions to Florida’s Personal Injury Protection law. This means the reforms remain in effect. The reforms have been taken into account in insurers’ rate filings, so the Supreme Court’s decision keeps the legal reforms in line with the […]
Kevin McCarty, auto insurance, Personal Injury Protection, insurance commissioner, Florida Office of Insurance Regulation, Insurance Regulation
Citizens Property Insurance Corporation, Kevin McCarty, property insurance, OIR, insurance commissioner, Insurance Regulation
Insurance Commissioner Kevin McCarty announced that Rebecca Matthews has been appointed as the Office of Insurance Regulation’s Chief of Staff. She has been serving as interim Chief of Staff since Audrey Brown’s departure in earlier this year. Ms. Matthews has been with the OIR since 2008. During her time with the agency, she has been involved […]
Florida’s Auditor General recently issued Report 2014-009 relating to its operational audit of the Florida Office of Insurance Regulation. The Office of Insurance Regulation in turn has provided its responses to the audit findings. The report identified the following four findings: Finding No. 1: Office policies and procedures should be enhanced to require that the […]
The Florida legislature is expected to take steps this session to improve the Florida property insurance market. After a series of committee meetings, some of the ideas are beginning to take shape. According to Senate Banking & Insurance Chairman David Simmons, the committee will have a bill dealing with issues relating to Citizens Property Insurance […]
The Florida Office of Insurance Regulation issued orders last year allowing property and casualty insurers to certify most products’ compliance with the insurance code rather than seeking prior approval of the forms. The orders are helpful to the Office of Insurance Regulation in reducing some of the workload associated with reviewing the filings. At the […]
Insurance Commissioner Kevin McCarty has named Wences Troncoso the OIR’s Deputy Commissioner for Life & Health Insurance. Mr. Troncoso follows Michelle Robleto. The Deputy Insurance Commissioner for Life & Health oversees the Financial Oversight and Product Review sections of the Office of Insurance Regulation. These sections cover areas including review and approval of forms and rates and […]
Florida Insurance Commissioner Kevin McCarty presented ideas for “principle-based” insurance reform to the Senate Banking and Insurance Committee this afternoon. In his presentation, Commissioner McCarty identified several reasons the private market has difficulty competing with Citizens Property Insurance Corporation. Among these, the Commissioner noted a “mismatch” between primary rate levels and the mitigation discounts for […]
The Florida Office of Insurance Regulation (Office) has unveiled a new resource for allowing interested persons to provide input on life and health insurance form and rate filings. “Hearing the opinions of Florida’s consumers about proposed changes to their insurance is considered a top priority of the Office. This feature presents a suitable forum for those opinions […]
