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
Radey is an AV-rated firm consisting of lawyers who practice before state agencies and in all state and federal courts.
Citizens Property Insurance Corporation, Office of Insurance Regulation, Insurance Regulation News, Depopulation, takeout companies
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 […]
Office of Insurance Regulation, Florida Legislature, Insurance Regulation News, property insurance, collateral protection, Senate Bill 2-A, Governor Ron
Office of Insurance Regulation, Insurance Regulation News, insurance actuaries, Michael Yaworsky, rate and form filings
The Florida Legislature increased regulatory oversight over the insurance industry in its insurer accountability bill (SB 7052) as summarized separately in this report. The law changes will require the Office of Insurance Regulation to adopt a series of administrative rules. In several cases, the rulemaking process should result in rule workshops this summer as the […]
The 2023 Florida Legislature passed SB 7052, commonly referred to as the insurer accountability bill. The bill came as a surprise to some after the legislature adopted meaningful property insurance reforms in a December 2022 special session and enhanced those reforms earlier in the 2023 session. Some observers commented that SB 7052 will reduce the […]
Office of Insurance Regulation, Insurance Regulation News, Florida Cabinet, insurance commissioner, Michael Yaworsky
The new year will bring personnel changes at key insurance-related organizations in Florida. Perhaps most notably, Insurance Commissioner David Altmaier stepped down effective December 28, 2022. Commissioner Altmaier first joined the Florida Office of Insurance Regulation in 2008. He held several roles within the property and casualty financial oversight area, including Chief Analyst. He then […]
Office of Insurance Regulation, Insurance Regulation News, David Altmaier, emergency order, Governor Ron DeSantis, Hurricane Ian, Insurance Regulation
Office of Insurance Regulation, Florida Legislature, Insurance Regulation News, property insurance, Demotech, insurer ratings