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The Florida Office of Insurance Regulation has issued an emergency order in the wake of Hurricane Irma. The order broadly applies to the insurance industry in Florida and is not limited to property insurers. At a high level, the order extends time periods that otherwise would apply for up to 90 days following Hurricane Irma. […]
Mike Yaworsky will be joining the Florida Office of Insurance Regulation as chief of staff, succeeding Belinda Miller. Mr. Yaworski most recently has worked as an attorney with the Georgia Department of Insurance and previously worked in the Georgia Senate President Pro Tem’s Office. Mr. Yaworsky is familiar with Tallahassee, having received his undergraduate degree from Florida […]
Florida’s First District Court of Appeal reversed a Leon County circuit judge’s order in its entirety and sided with the National Council on Compensation Insurance (NCCI) and the Florida Office of Insurance Regulation (OIR) in upholding a 14.5% workers’ compensation rate increase. NCCI submitted rate filings to OIR responding to Florida Supreme Court decisions invalidating […]
Insurance Regulation News, OIR, insurance commissioner, Commissioner Altmaier, Insurance Regulation
The Florida Office of Insurance Regulation has announced new deputy commissioners for property and casualty insurance and for life and health insurance. The OIR has named Susanne Murphy as the deputy commissioner for property and casualty insurance. Ms. Murphy has substantial experience in insurance regulation, as well as with Florida’s residual property insurance market Citizens […]
The Florida Office of Insurance Regulation has filed a Notice of Appeal relating to a circuit court ruling issued last week that would block the implementation of a statewide average 14.5 percent increase in workers’ compensation insurance rates. In a press release announcing its decision to appeal, the Office of Insurance Regulation noted that Florida’s […]
In response to rulings of the Florida Supreme Court earlier this year, the National Council on Compensation Insurance submitted a rate filing proposing a rate increase of more than 19%. However, after a public hearing and review by the Florida Office of Insurance Regulation, the OIR ultimately approved a 14.5% statewide average rate increase. The […]
The Florida Office of Insurance Regulation has issued a Final Order approving the National Council on Compensation Insurance’s overall statewide average rate increase of 14.5% for workers’ compensation insurance. The rate increase applies to both new and renewal workers’ compensation insurance policies effective in Florida as of December 1, 2016. NCCI initially submitted a filing […]
The Florida Office of Insurance Regulation (OIR) recently issued an order granting contingent approval to a statewide average rate increase of 14.5% for workers’ compensation insurance. The approval is conditioned upon the National Council on Compensation Insurance’s making certain revisions to its initial filing, which proposed a 19.6% increase. As ordered by the OIR, the rate […]
Speaking at an industry conference this week, Insurance Commissioner David Altmaier highlighted reliability, availability and affordability as the cornerstones of product regulation. Commissioner Altmaier briefly discussed these areas as they currently relate to the Florida insurance market. In the area of reliability, the Commissioner noted that the Office of Insurance Regulation’s financial oversight role seeks to ensure […]
