Another good year for medical malpractice insurers
medical malpractice insurance, Insurance Regulation News, Office of Insurance Regulation
News & Updates
Office of Insurance Regulation
OIR Releases Medical Malpractice Report
The Florida Office of Insurance Regulation has released its 2010 annual report on the medical malpractice insurance industry. The Florida legislature requires the OIR to publish this report of medical malpractice financial data each year. The OIR observes in the report that insurers achieved a return on surplus of 6.6% in 2009, marking their sixth […]
Future Composition of Financial Services Commission Still Unclear
With a little more than a month to go until the general election, the races to determine the future makeup of Florida’s Financial Services Commission appear they will go down to the wire. Under Florida’s unique regulatory structure, the Financial Services Commission consisting of the Governor, Chief Financial Officer, Attorney General and Commissioner of Agriculture, […]
Scott Campaign Releases Insurance Platform
Rick Scott’s campaign for Governor has released a paper on insurance and tort reform issues. Candidate Scott vows to restore Citizens Property Insurance Corporation to its initially envisioned role as a market of last resort. He emphasizes the importance of allowing the private market to compete amongst themselves, with competition serving as the primary determinant […]
Regulators cast spotlight on Florida’s property insurance crisis
Departure of Insurer from Florida Points Up Fraud Problem
Explorer Insurance Driving Out Of Florida
OIR to Review Sinkhole Claims Problem
The Office of Insurance Regulation has heard reports of increased frequency for sinkhole claims, particularly in areas of Florida that are not usually identified with sinkhole problems. Mounting sinkhole losses for Citizens Property Insurance Corporation and admitted market insurers have prompted the OIR to send a data call to insurers to develop more information from […]
OIR, Commissioner McCarty Respond to Healthcare Reforms
The Office of Insurance Regulation recently announced that Florida Insurance Commissioner Kevin McCarty joined regulators from other states in voting to approve the NAIC’s recommended language for the Medical Loss Ratio (MLR) definition under the federal Affordable Care Act. Due to the definition of medical expenses, health insurance agent premiums were not included in the definition of […]
Future Financial Services Commission Picture Taking Shape
With the primary races now behind us, the potential makeup of the Financial Services Commission for next year has become a little clearer. However, early guesses suggest that some of the general elections will be close and polls have had a tendency to shift this fall, so Floridians will continue to watch these races closely […]