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The Governor’s recent approval of SB 2176 might be best known for its provisions streamlining commercial insurance rate filings, or perhaps for its “Safeguard or Seniors” annuity provisions that have been championed by Chief Financial Officer Alex Sink. However, for Florida’s service agreement industry, the most significant changes appear in a series of amendments to […]
SB 2044, Governor Charlie Crist, Office of Insurance Regulation, Citizens Property Insurance Corporation
Senate Bill 2044 became the primary property insurance bill during the 2010 legislative session, particularly for issues relating to residential insurance. The bill reflected input from a variety of interested parties, including the Office of Insurance Regulation, the insurance industry, the trial bar, and public adjusters. Although a number of parties commented after the session […]
The Governor has approved Senate Bill 2176 as passed in the 2010 legislative session. The bill addressed several high profile topics, including the process by which commercial property and casualty insurers may adjust their rates. The bill revises current rate submission and approval requirements for selected types of commercial insurance, including: Excess or Umbrella Surety […]
Insurance Regulation News, Office of Insurance Regulation, hurricane season
Office of Insurance Regulation, Governor Charlie Crist, Insurance Regulation News
A bill passed in the 2010 legislative session relating to recouping Florida Insurance Guaranty Association assessments will become law effective July 1, 2010. The new law (Chapter Law 2010-49) streamlines the process by which insurers may recoup assessments levied by FIGA. An insurer seeking to recoup an assessment will make an informational filing with the […]
The Florida Office of Insurance Regulation has issued Informational Memorandum OIR-10-03M relating to the recent federal health insurance legislation. The memorandum identifies the following changes as being effective September 23, 2010, and applicable to a group health plan and a health insurance issuer offering group or individual health insurance coverage. Policies issued on or after September 23, […]
Coventry First, LLC v Kevin McCarty, Commissioner of the Florida Office of Insurance Regulation (11th Circuit Court of Appeals) The 11th Circuit Court of Appeals issued an order on May 5, 2010 affirming a decision by the Northern District of Florida dismissing Coventry First LLC’s complaint for injunctive relief. The Florida Office of Insurance Regulation […]
