News & Updates

Kevin McCarty

Financial Services Commission Discusses Commissioner Search

Financial Services Commission Discusses Commissioner Search

The Financial Services Commission (FSC), consisting of the Governor, Chief Financial Officer, Attorney General and Commissioner of Agriculture, discussed the process of finding Florida’s next Insurance Commissioner at their regularly scheduled Cabinet meeting.  The FSC intends to conduct a nationwide search and agreed to potentially increase the compensation level to attract highly qualified candidates.  The […]

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Commissioner McCarty to Step Down May 2

Commissioner McCarty to Step Down May 2

Insurance Commissioner Kevin McCarty announced today that he is resigning as of May 2, 2016.  According to a release from the Florida Office of Insurance Regulation, Commissioner McCarty is resigning to pursue other job opportunities.  Commissioner McCarty has served as Insurance Commissioner since 2003, when the Office of Insurance Regulation was created in connection with other restructuring of Florida’s government. “The privilege of serving […]

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Commissioner Discusses Possible Elimination of No-Fault System

Commissioner Discusses Possible Elimination of No-Fault System

Insurance Commissioner Kevin McCarty mentioned the possibility of scrapping Florida’s no-fault auto insurance system during a speech at the Florida Chamber of Commerce’s recent insurance summit.  Eliminating the no-fault system would require a legislative change and has been discussed by some lawmakers in recent years as they have struggled to implement lasting reforms that curtail […]

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Florida Homeowners Insurers Pass Stress Test

Florida Homeowners Insurers Pass Stress Test

The Florida Office of Insurance Regulation released a report summarizing the results of its annual reinsurance data call and stress test.  Under the stress test, residential property insurers are required to identify how their reinsurance programs would respond to several hurricane scenarios, including a single large event or multiple smaller events.  According to the OIR’s […]

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