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The Florida Office of Insurance Regulation will hold a public hearing September 20 to discuss and receive input on Citizens Property Insurance Corporation’s proposed rate changs for its Coastal Account and Personal Lines Account (PLA). These accounts include policies for personal residential insurance policies such as homeowners and mobile home owners’ policies. The proposed statewide average rate increase for homeowners’ policies, […]
property insurance, Insurance Regulation News, Office of Insurance Regulation, Kevin McCarty, Citizens Property Insurance Corporation
Insurance Regulation News, health insurance, Office of Insurance Regulation, Governor Rick Scott
Insurance Regulation News, workers' compensation, Office of Insurance Regulation
Tropical Storm Isaac, hurricane deductibles, property insurance, hurricane season, Office of Insurance Regulation, Kevin McCarty
The Florida Office of Insurance Regulation has issued Informational Memorandum OIR-12-05M relating to the deductbiles to be applied under Isaac losses. Isaac was a tropical storm through the update on Tuesday, August 28, 2012, when it was declared to be a hurricane. The OIR advises that its declaration as a hurricane triggers the hurricane deductible under […]
The Florida Office of Insurance Regulation has issued an administrative order setting forth profit and contingency factors that insurers may use in their rate filings. Property lines of business generally have positive profit and contingency factors, such as homeowners at 4.1% and fire at 3.6%. Liability lines of business generally have negative P&C factors.
Office of Insurance Regulation, hurricane season, Hurricane Andrew, property insurance, Insurance Regulation News
The National Council on Compensation Insurance (NCCI) has delivered its annual workers compensation rate filing to the Office of Insurance Regulation (OIR). The filing provides for an overall workers compensation rate level increase of 6.1%. The proposed effective date is January 1, 2013. Even with the proposed increase, the filing still reflects a significant reduction in rate […]
Hurricane Andrew, property insurance, Insurance Regulation News, Florida Legislature, hurricane season, Office of Insurance Regulation, Citizens Property Insurance Corporation
