Bad news for Florida property owners: Insurance rates aren’t likely to fall soon
Office of Insurance Regulation, Florida Legislature, Insurance Regulation News, property insurance, Governor DeSantis, Michael Yaworsky
News & Updates
Office of Insurance Regulation
OIR Advances Proposed Administrative Rules
The Florida Office of Insurance Regulation (OIR) has taken the next step toward adopting administrative rules implementing recent legislation. The Financial Services Commission (FSC) recently authorized the OIR to formally publish drafts of the rules as proposed rules. The FSC consists of Florida’s Governor, Chief Financial Officer and Attorney General. These elected officials comprise a […]
Florida Regulators Remind Insurers to Take Care of Insureds as Claims Come in
Office of Insurance Regulation, Insurance Regulation News, property insurance, Hurricane Idalia, Insurance Regulation
OIR Issues Emergency Order Following Idalia
The Florida Office of Insurance Regulation (OIR) has issued an emergency order in the wake of Hurricane Idalia. Emergency Order 315284-23-EO contains prohibitions on cancellation and nonrenewals similar to those following other hurricanes in recent years. The Emergency Order applies to the following counties: Alachua, Baker, Bradford, Citrus, Columbia, Dixie, Franklin, Gilchrist, Hamilton, Hernando, Hillsborough, […]
Regulators warn insurance companies after Hurricane Idalia
Office of Insurance Regulation, property insurance, Governor DeSantis, property insurance reforms, Florida homeowners, Hurricane Idalia
After Idalia, will Florida policyholders see yet another surcharge or increase?
Citizens Property Insurance Corporation, Office of Insurance Regulation, Florida property insurers, Insurance Regulatory News, Hurricane Idalia
Governor Declares State of Emergency for Idalia
Even before Idalia reached tropical storm status, Governor Ron DeSantis issued Executive Order 23-171 declaring a state of emergency for 33 Florida counties. Counties subject to the declaration encompass a large portion of Florida’s Gulf coast, extending from Bay County (Panama City) to Sarasota County. The declaration of emergency activates certain portions of the state’s […]
OIR approves Mainsail as newest domestic property insurer; Citizens in line to shed nearly 300,000 policies
Citizens Property Insurance Corporation, Office of Insurance Regulation, Insurance Regulation News, property insurance, Depopulation, Michael Yaworsky
Four insurers approved to take out up to 184,000 Citizens policies
Citizens Property Insurance Corporation, Office of Insurance Regulation, Insurance Regulation News, Depopulation, takeout companies
OIR Issues Claims Manual Emergency Rule
The Florida Office of Insurance Regulation (OIR) has issued emergency rule 69O-ER-23-2 adopting forms to be used by residential property insurers certifying and submitting claims manuals. The Florida legislature specified in SB 7052 (now Chapter Law 2023-172) that residential property insurers must annually certify they maintain claims manuals meeting certain statutory standards. Insurers also must […]