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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 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 […]
Office of Insurance Regulation, Insurance Regulation News, Florida Cabinet, insurance commissioner, Michael Yaworsky
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 […]
Hurricane Ian, Office of Insurance Regulation, Insurance Regulation News, David Altmaier, emergency order, Governor Ron DeSantis, Insurance Regulation
property insurance, Demotech, insurer ratings, Office of Insurance Regulation, Florida Legislature, Insurance Regulation News
Office of Insurance Regulation, hurricane season, Insurance Regulation News, property insurance, David Almaier
roofing claims, Office of Insurance Regulation, Florida Legislature, Insurance Regulation News, property insurance, SB 76, Insurance Regulation
The disparity between Citizens Property Insurance Corporation’s rates and those in the admitted market is likely to grow. Premiums have increased significantly in the admitted market in recent years, driven by well-documented problems with inflated, represented and litigated claims. These concerns have been compounded by broader inflationary pressures in the economy, including supply chain disruptions […]
AOB Claims, Florida special session, Office of Insurance Regulation, hurricane season, Florida Legislature, Department of Financial Services, Insurance Regulation News, Insurance Regulation
