Radey is an AV-rated firm consisting of lawyers who practice before state agencies and in all state and federal courts.
Florida’s exit from the Nonadmitted Insurance Multi-State Agreement (NIMA) takes effect June 1. Florida becomes the second state to leave NIMA after Louisiana exited the agreement last year. Representatives of the Florida Office of Insurance Regulation (OIR) commented that while NIMA achieved its intended benefits for the participating states, they are disappointed that participation did […]
The Florida Office of Insurance Regulation has issued a request for proposals from firms interested in performing an analysis of alternatives to Florida’s Personal Injury Protection (PIP) laws. The OIR intends to engage a firm this month, with a goal of presenting a final report to executive and legislative branch officials by September 2. The […]
The Florida Office of Insurance Regulation has published notice of a public hearing relating to its adoption of the 2015 and 2016 NAIC Financial Condition Examiners Handbooks. Additionally, the Office of Insurance Regulation plans to hold a public hearing relating to its adoption of the current version of the NAIC quarterly and annual statement instructions […]
Governor Scott has signed SB 1422 into law, meaning that Florida has adopted the Own-Risk and Solvency Assessment (“ORSA”) reporting requirement. SB 1422 is now known as Chapter Law 2016-206. A companion bill, SB 1416 (now known as Chapter Law 2016-205), provides for the confidentiality of information contained in the ORSA reports. An Own-Risk and […]
Citizens Property Insurance Corporation’s president Barry Gilway and members of its board recently expressed concern that increased water damage claims and the “assignment of benefits” issue could adversely affect Citizens’ depopulation efforts. Water damage claims and the AOB issue are leading to rate increases, particularly in in South Florida where the issues are most prevalent. […]
Florida Insurance Commissioner Kevin McCarty’s announcement that he is resigning effective May 2, 2016, puts Florida in a position it has been in only once before– needing to appoint an insurance commissioner to lead the Florida Office of Insurance Regulation (OIR). McCarty is the first, and only, insurance commissioner appointed after the restructuring of the […]
Insurance Commissioner Kevin McCarty announced today that he is resigning as of May 2, 2016. According to a release from the Florida Office of Insurance Regulation, Commissioner McCarty is resigning to pursue other job opportunities. Commissioner McCarty has served as Insurance Commissioner since 2003, when the Office of Insurance Regulation was created in connection with other restructuring of Florida’s government. “The privilege of serving […]
The Florida Office of Insurance Regulation (OIR) will conduct a public hearing to discuss the application for the proposed acquisition of CarePlus Health Plans, Inc., Humana Health Insurance Company of Florida, Inc., Humana Medical Plan, Inc. and CompBenefits Company by Aetna Inc. on December 7, 2015. The next day, the OIR will conduct a public […]
The Florida Office of Insurance Regulation has scheduled hearings on consecutive days in December relating to major pending health insurance acquisitions. On December 7, the OIR will hold a public hearing on Aetna, Inc.’s proposed acquisition of CarePlus Health Plans, Inc., Humana Health Insurance Company of Florida, Inc., Humana Medical Plan, Inc., and CompBenefits Company. […]
The Florida Office of Insurance Regulation has issued an order approving an overall rate reduction of 4.7% in the National Council on Compensation Insurance’s (NCCI’s) recent workers’ compensation insurance rate filing. NCCI originally filed for an overall rate reduction of 1.9%. However, upon review, the OIR disapproved the filing as initially filed and stated that […]
