Tussle in Tallahassee over insurance rates control
Insurance Regulation News, Governor Charlie Crist, Office of Insurance Regulation
News & Updates
Office of Insurance Regulation
Florida insurers’ fees to affiliates questioned
OIR Memorandum Provides Guidance on Reinsurance Coverage
OIR has issued an informational memo OIR-10-01M notifying property insurers of a modified approach to the OIR’s requirements for minimum reinsurance coverage for catastrophe reinsurance. The memo states: “This year the Office of Insurance Regulation (Office) will be looking at the totality of the catastrophe risk from multiple storms and ultimately the insurer’s ability to […]
Insurance politics is costing Floridians
Insurance Regulation News, consumer choice, Office of Insurance Regulation
FSU Catastrophe Center Discusses Mitigation Discounts
The Florida Catastrophic Storm Risk Management Center has released a report discussing implementation of Florida’s mitigation discount program for residential property insurance. This report is the third in a series of recent studies identifying significant concerns with the way the current system of mitigation discounts has affected the residential property insurance market. The Florida Commission […]
More homeowners’ insurance headaches
OIR Proposes Changes to Model Audit Rule
The OIR has announced a notice of proposed rulemaking for Rule 69O-137.002, Model Audit Rule. If requested a hearing will be held on April 23, 2010. Some highlights of the rule, which attempts to match Florida’s rule with the NAIC model. 1. It now expressly requires: (a) Communication of Internal Control Related Matters in an […]