Southeast Officials Focus on Curbing Fraud, Rising Auto Rates, Flood Insurance, Distracted Driving
Office of Insurance Regulation, Florida Legislature, Insurance Regulation News, assignment of benefits, David Altmaier, AOB
News & Updates
Office of Insurance Regulation
Hurricane Michael Changes Regulatory Focus
Hurricane Michael has prompted several changes in the Office of Insurance Regulation’s recent and upcoming schedule. The OIR’s early focus has been on assisting policyholders in the affected areas. In addition, the OIR implemented its post-event loss reporting process. Insurers must report their numbers of claims and estimated loss amounts on a daily basis in […]
Michael insurance claims quickly pile up
Office of Insurance Regulation, Insurance Regulation News, property insurance, hurricane claims, Hurricane Michael, property losses
Regulators, Industry Seek to Keep Florida AOB Abuse In Check After Michael
Office of Insurance Regulation, Insurance Regulation News, AOB Claims, property claims, Hurricane Michael
Hurricane Michael claims begin streaming in to state insurance office
Office of Insurance Regulation, Insurance Regulation News, hurricane claims, Hurricane Michael, claims data reporting
Florida Orders Insurers to Halt Rate Hikes; Sets Up Hurricane Michael Claims Village
Office of Insurance Regulation, Insurance Regulation News, OIR, emergency order, Hurricane Michael, rate freeze
OIR Emergency Order Extends Deadlines in Panhandle
The Florida Office of Insurance Regulation has issued an Emergency Order applicable to Florida’s Panhandle and Big Bend regions. The order requires insurers to rescind recently issued cancellation and nonrenewal notices and to extend policyholders’ deadlines. It is similar to one issued last year following Hurricane Irma, although this year’s order covers a narrower area light of Hurricane […]
OIR Summit to Cover Current Regulatory Issues
The Florida Office of Insurance Regulation (OIR) is hosting the next edition of its industry summit on October 24-25 in Tallahassee. The OIR has hosted several similar summits in the past to discuss emerging issues of interest to regulators and the insurance industry. Early versions of the summit concentrated on the form and rate filing […]
Court Upholds Conditions on Assignments
Florida’s 4th District Court of Appeal in Restoration 1 of Port St. Lucie v. Ark Royal Insurance Company determined that an insurer may require approval of all insureds and the mortgagee before an assignment of benefits is valid. This ruling differs from a conclusion reached by the 5th DCA last year after the Office of […]
DFS Discusses Revisions to Agent Penalty Rules
The Florida Department of Services (DFS) conducted a workshop on Friday to receive comments to its proposed revisions to Rule Chapter 69B-231. These rules set forth penalty guidelines for various misconduct by agents, adjusters and other licensees. In instances where DFS has discretionary authority to suspend a licensee’s license, the rule identifies the suspension periods […]