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The Florida Office of Insurance Regulation (OIR) has taken the next step toward adopting administrative rules implementing recent legislation. The Financial Services Commission (FSC) recently authorized the OIR to formally publish drafts of the rules as proposed rules. The FSC consists of Florida’s Governor, Chief Financial Officer and Attorney General. These elected officials comprise a […]
The Florida Legislature increased regulatory oversight over the insurance industry in its insurer accountability bill (SB 7052) as summarized separately in this report. The law changes will require the Office of Insurance Regulation to adopt a series of administrative rules. In several cases, the rulemaking process should result in rule workshops this summer as the […]
The Florida Office of Insurance Regulation has announced new deputy commissioners for property and casualty insurance and for life and health insurance. The OIR has named Susanne Murphy as the deputy commissioner for property and casualty insurance. Ms. Murphy has substantial experience in insurance regulation, as well as with Florida’s residual property insurance market Citizens […]
Speaking at an industry conference this week, Insurance Commissioner David Altmaier highlighted reliability, availability and affordability as the cornerstones of product regulation. Commissioner Altmaier briefly discussed these areas as they currently relate to the Florida insurance market. In the area of reliability, the Commissioner noted that the Office of Insurance Regulation’s financial oversight role seeks to ensure […]
