No-fault insurance repeal re-emerges
Office of Insurance Regulation, Florida Legislature, auto insurance, PIP, Insurance Regulation News, no fault coverage
News & Updates
Office of Insurance Regulation
Insurers That Assume Insolvents’ Policies Could be Covered by Florida Cat Fund
Citizens Property Insurance Corporation, Office of Insurance Regulation, Florida Legislature, Department of Financial Services, Insurance Regulation News, Insurance Regulation
Citizens’ policies jump as Florida lawmakers seek to steer people to private insurers
Citizens Property Insurance Corporation, homeowners, property insurance, Insurance Regulation News, Office of Insurance Regulation
Residential Property Insurers Face New Reporting Requirement
The new year brings the initial reporting period for a new closed claim reporting obligation applicable to residential property insurers. In the 2021 legislative session, the Florida Legislature adopted SB 76 which, among other things, amends Section 624.424 pertaining to insurers’ annual statements. The new requirement specifies that beginning January 1, 2022, each authorized residential […]
OIR to Adopt Rule Implementing Closed Claim Reporting Requirement
The Florida Office of Insurance Regulation (OIR) recently indicated it anticipates initiating rulemaking by November 1 with respect to the new closed claim reporting requirement in SB 76 (Chapter Law 2021-77). Adopted in the 2021 legislative session, SB 76 added a new subsection (11) to Section 624.424 governing insurers’ submissions of annual statements. The new […]
Is PIP Repeal Dead?
Observers of Florida’s personal auto market are well aware of the legislative debates in recent years over the future of Florida’s no-fault Personal Injury Protection (PIP) insurance laws. Proponents of PIP have pointed to it as a relatively fast, no-fault basis of ensure basic coverage amounts are in place for injuries arising from auto accidents. […]
Injunction Highlights Questions About Property Reform
SB 76 adopted in the 2021 legislation drew a lukewarm reaction, even among some of the lawmakers who supported property insurance reform. One key advocate referred to the bill as accomplishing about 40% of what would be needed to improve Florida’s property insurance market. And that was before part of the law was declared unconstitutional. […]
Auto insurance flexibility bill hits Gov. DeSantis’ desk
Office of Insurance Regulation, Florida Legislature, auto insurance, Governor DeSantis
Florida Governor Ron DeSantis Signs Property Insurance Bill That May Bring Higher Rates
Citizens Property Insurance Corporation, Office of Insurance Regulation, Florida Legislature, Insurance Regulation News, property insurance, Governor DeSantis, Senate Bill 76
Governor Signs Property Insurance Bill
Governor Ron DeSantis has signed this year’s primary property insurance bill, SB 76, into law. Most of the bill’s provisions take effect July 1, 2021. The legislature passed SB 76 after extended debate leading into and during the 2021 legislative session. As is often the case during the legislative process, the final bill reflects a […]