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The Florida Office of Insurance Regulation has posted information pertaining to the assignment of benefits (AOB) issue on its website at: http://www.floir.com/Sections/PandC/AssignmentofBenefits.aspx The web page includes media coverage of the issue as well as the OIR’s projections of the rate impact on Floridians over the next five years if legislative reforms are not enacted. 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 […]
Office of Insurance Regulation, Insurance Regulation News, Florida politics, David Altmaier, Susanne Murphy, Eric Johnson
Office of Insurance Regulation, Insurance Regulation News, property insurance, Rick Scott, Florida Cabinet, David Altmaier, AOB Claims
The maximum personal residential coverage limits available from Citizens Property Insurance Corporation decreased as of January 1, 2017, in accordance with a law passed in 2013 providing for a gradual step-down in the limits. Effective January 1, the following risks are no longer eligible as new business or renewals: A structure that has a dwelling replacement […]
As required by a law passed in 2013, the maximum Coverage A amounts for Citizens Property Insurance Corporation’s personal residential coverage have been reduced again effective January 1, 2017. The following new business and renewals for personal residential risks are no longer are eligible for coverage in Citizens: A structure that has a dwelling replacement […]
The Florida Office of Insurance Regulation has filed a Notice of Appeal relating to a circuit court ruling issued last week that would block the implementation of a statewide average 14.5 percent increase in workers’ compensation insurance rates. In a press release announcing its decision to appeal, the Office of Insurance Regulation noted that Florida’s […]
In response to rulings of the Florida Supreme Court earlier this year, the National Council on Compensation Insurance submitted a rate filing proposing a rate increase of more than 19%. However, after a public hearing and review by the Florida Office of Insurance Regulation, the OIR ultimately approved a 14.5% statewide average rate increase. The […]
The Florida Office of Insurance Regulation has issued a Final Order approving the National Council on Compensation Insurance’s overall statewide average rate increase of 14.5% for workers’ compensation insurance. The rate increase applies to both new and renewal workers’ compensation insurance policies effective in Florida as of December 1, 2016. NCCI initially submitted a filing […]
The Florida Office of Insurance Regulation (OIR) recently issued an order granting contingent approval to a statewide average rate increase of 14.5% for workers’ compensation insurance. The approval is conditioned upon the National Council on Compensation Insurance’s making certain revisions to its initial filing, which proposed a 19.6% increase. As ordered by the OIR, the rate […]
