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The Office of Insurance Regulation issued an Order disapproving a statewide average rate decrease of 3.3% for workers compensation insurance filed by the National Council on Compensation Insurance (NCCI). However, in doing so, the OIR specified revisions NCCI can make that will result in approval of a filing with a statewide average decrease of 5.2%. […]
At the OIR’s recent “Navigating the Changing Insurance Environment” conference, Director of Property & Casualty Financial Oversight David Altmaier highlighted several recent statutory revisions relating to the property and casualty insurance industry. First, Mr. Altmaier mentioned that the holding company registration statement will be due April 1. This is different than in recent years, when […]
Robert Ridenour of the Office of Insurance Regulation led an informative discussion of changes to the acquisition statement filing process at the recent OIR “Navigating the Changing Insurance Environment” conference. Section 628.461, Florida Statutes, has long governed the filings requires when a person seeks to acquire five percent or more of the outstanding voting securities […]
The Office of Insurance Regulation provided an overview of the trade secret filing requirements at its 2014 “Navigating the Changing Insurance Environment” industry conference. Virginia Christy of the OIR described the statutes that relate to trade secret filings and the process that ensues when a public records request encompasses documents marked as trade secrets. Florida […]
Citizens Property Insurance Corporation, hurricane season, OIR, insurance commissioner, Citizens clearinghouse, Insurance Regulation
The Florida Office of Insurance Regulation has issued an order establishing the 2015 rates for Citizens Property Insurance Corporation’s personal lines programs. The statewide average homeowners rate decrease is 3.7%, which is a slightly greater reduction than the 3.4% decrease filed by Citizens. The OIR’s order sets rates for Citizens Homeowners’, Dwelling Fire, Mobile Homeowners and Mobile Homeowners Physical Damage policies. […]
Over the last few years, we have grown accustomed to talking about Citizens Property Insurance Corporation’s rates being inadequate and serving as an impediment to policies finding coverage in the admitted market. However, as the rate glide path in 2010 has continued to take effect each year, an increasing number of insurers have been assuming […]
Kevin McCarty, OIR, insurance commissioner, Atlantic Hurricane Season, standard flood insurance, Insurance Regulation
Citizens Property Insurance Corporation, hurricane season, OIR, Atlantic Hurricane Season, Florida CAT Fund, Insurance Regulation
The Office of Insurance Regulation has issued informational memorandum OIR-14-02M notifying insurers of changes to the I-File system relating to the handling of trade secret documents. The I-File system accepts, tracks and makes publicly available insurers’ form and rate filings. However, certain required documents might be trade secrets, which can be protected in the I-File system and […]
