Radey is an AV-rated firm consisting of lawyers who practice before state agencies and in all state and federal courts.
Like many state officials across the country, the National Association of Insurance Commissioners (NAIC) is expressing concern with President Trump’s executive order addressing state AI regulations. The NAIC points out the state insurance regulatory structure fosters consumer-focused regulation hat adapt to new technologies as they emerge. The NAIC contends the President’s executive order could be […]
Governor Ron DeSantis has proposed an Artificial Intelligence (AI) Bill of Rights for Florida consumers. The Governor’s recent announcement also includes protection for Florida consumers against bearing substantial costs associated with the development of AI data centers. The Governor’s proposals include, “new legislation on artificial intelligence and AI data centers to protect Floridians’ privacy, security, […]
The Florida Office of Insurance Regulation has proposed amendments to rule 69O-143.046 related to insurance holding company system filings. The proposed rule would adopt two new reporting forms– the “Group Capital Calculation 2024 Template” and the “NAIC Liquidity Stress Test Template.” The templates are based on NAIC models that have been adopted in most states […]
Insurance Regulation News, NAIC, cybersecurity, AI technology
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 Legislature adopted HB 1185 during the 2023 legislative session. The bill has been presented to Governor Ron DeSantis for approval or veto. The bill’s consumer protection provisions are not limited to the insurance industry. However, several relate directly to insurers or insurance-related organizations. The following are among the key insurance-related changes in the […]
The 2023 Florida Legislature passed SB 7052, commonly referred to as the insurer accountability bill. The bill came as a surprise to some after the legislature adopted meaningful property insurance reforms in a December 2022 special session and enhanced those reforms earlier in the 2023 session. Some observers commented that SB 7052 will reduce the […]
The new year will bring personnel changes at key insurance-related organizations in Florida. Perhaps most notably, Insurance Commissioner David Altmaier stepped down effective December 28, 2022. Commissioner Altmaier first joined the Florida Office of Insurance Regulation in 2008. He held several roles within the property and casualty financial oversight area, including Chief Analyst. He then […]
The Federal Insurance Office (FIO) of the U.S. Department of the Treasury (Treasury) has issued a Request for Information (RFI) seeking public input on climate-related financial risks and their impact on the insurance industry. The RFI requests written comments from interested parties on or before November 15, 2021. As background, the FIO points out that […]
