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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 […]
The Florida Office of Insurance Regulation will hold a public hearing on Citizens Property Insurance Corporation’s pending rate filings today in Tallahassee. The hearing begins at 9:00 a.m. in the Senate Office Building. The hearings will allow the Office of Insurance Regulation to publicly discuss and receive comments on the pending filings for Citizens for […]
The Florida Office of Insurance Regulation (Office) has scheduled two public hearings for today to discuss key long-term care rate filings that are pending before the Office. The filings relate to proposed rate increases submitted by Metropolitan Life Insurance Company (“Metlife”) and Unum Life Insurance Company of America (“Unum”). The Office has elected to host the public […]
As required by a law passed in 2013, the maximum Coverage A amounts for Citizens Property Insurance Corporation’s personal residential coverage will be reduced again effective January 1, 2017. Effective at the beginning of net year, the following new business and renewals for personal residential risks are no longer are eligible for coverage in Citizens: A structure […]
The Florida Office of Insurance Regulation (OIR) announced this week that filings of the National Council on Compensation Insurance (NCCI) are now available through the OIR’s I-File system. This includes prior filings dating back to the 2001 implementation of the electronic filing system. NCCI wrote to the OIR acknowledging that both the OIR and NCCI […]
