McCarty: National flood rates are ‘unfairly discriminatory’
Kevin McCarty, Office of Insurance Regulation, Florida Commission on Hurricane Loss Projection Methodology, Insurance Regulation News, National Flood Insurance Program, flood rates
News & Updates
Office of Insurance Regulation
OIR Seeks to Amend Holding Company Regulations
The Florida Office of Insurance Regulation held a workshop at its office in Tallahassee to discuss potential amendments to key administrative rules governing insurance holding company systems and transactions between insurers and their affiliates. The workshop is the first step in the administrative rule making process, which ultimately leads to formal revisions to regulations governing […]
Public Hearing Scheduled for Proposed Citizens Rate Changes
The Office of Insurance Regulation has scheduled a public hearing for the following pending rate filings submitted by Citizens Property Insurance Corporation. Citizens submits rate filings for all of its programs each year. In connection with the OIR’s review, the OIR holds a public hearing at which Citizens presents information regarding the filings and the […]
The Doctors Co. Challenging Florida’s Order to Decrease Med Mal Rates
Office of Insurance Regulation, Insurance Regulation News, medical malpractice, Division of Administrative Hearings, The Doctors Co.
DFS Cautions Against Unauthorized Charges
The Florida Department of Financial Services has issued guidance to agents regarding unlawful or unauthorized charges. The department advises that it has received an increasing number of inquiries from Florida agents asking if they can charge fees for services ancillary to placing insurance, such as issuing certificates of coverage. The department responds that charging these types […]
OIR Highlights Economic Impact of Insurance Industry
Insurance Commissioner Kevin McCarty appeared before the Governor and Cabinet last week to discuss potential standards under which the Office of Insurance Regulation can be objectively reviewed. The Governor and Cabinet have indicated that they want to hear from the agencies they oversee, including the Office of Insurance Regulation, regarding appropriate measurements for their agencies. […]
OIR Issues Guidance on PPACA Filings
The Office of Insurance Regulation has provided the following overview is intended to assist the industry in understanding the PPACA filing process and deadlines, as well as, to provide insight into how the Office will allocate resources to meet federal timeframes. PPACA Filing Deadlines According to the final United States Department of Health & Human […]
Citizens Emergency Assessment Ends by July 1
The Office of Insurance Regulation has issued an order to insurers advising that the Citizens Property Insurance Corporation emergency assessment relating to a 2005 plan year deficit will end effective July 1, 2015. The OIR’s order follows action by the Citizens Property Insurance Corporation Board of Governors relating to the defeasance of bonds issued in […]
David Altmaier Named Next Deputy Commissioner for Property and Casualty Insurance
The Office of Insurance Regulation announced that David Altmaier will become the Deputy Commissioner for Property & Casualty insurance effective March 9, succeeding Rich Koon who has decided to pursue an opportunity in the private sector. In a release to colleagues within the Office of Insurance Regulation, Commissioner McCarty said: Rich Koon, Deputy Commissioner of […]
CFO Calls for Insurance Company Stress Test
Chief Financial Officer Jeff Atwater recently called for an insurance company stress test designed to give consumers confidential that Florida’s residential property insurers are well-managed and will be able to deliver when Florida next experiences a hurricane. Atwater believes the results should be made public and should show the process the insurers, particularly smaller insurers, […]