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Florida Insurance Commissioner Kevin McCarty’s announcement that he is resigning effective May 2, 2016, puts Florida in a position it has been in only once before– needing to appoint an insurance commissioner to lead the Florida Office of Insurance Regulation (OIR). McCarty is the first, and only, insurance commissioner appointed after the restructuring of the […]
As 2014 comes to a close, several of the issues that commanded considerable attention during the year reached their resolution and set the framework for 2015 ahead. When we all return from the holidays, the legislative committee weeks will be upon us and the 2015 legislative session will begin before we know it. However, before […]
The Governor and Cabinet serve as a collegial governing body known as the Financial Services Commission, which has rulemaking authority for the Office of Insurance Regulation. In addition, the FSC designates the insurance commissioner by a majority vote, with the Governor and Chief Financial Officer required to be on the same side. After last night’s elections, […]
Governor Rick Scott, Attorney General Pam Bondi and Chief Financial Officer Jeff Atwater announced that Florida will file an amicus brief in support of the Mississippi Department of Insurance’s suit seeking to delay implementation of rate increases in the federal flood insurance program. Attorney General Bondi indicated that supporting the Mississippi action might result in a faster decision than if Florida were to […]
The Florida Office of Insurance Regulation has announced a public hearing at which it will investigate claims settlement practices in the life and annuity industry. The OIR has directed that representatives of two insurers appear in Tallahassee on May 19 to address its concerns, and OIR advises that it continues to examine other insurers. According […]
U.S. District Court Judge Roger Vinson has issued a response to the Department of Justice’s most recent motion in the federal healthcare lawsuit. Judge Vinson previously ruled that the federal healthcare law is unconstitutional, but the Department of Justice filed a motion seeking to ensure implementation will continue while it appeals. Vinson criticized the Department of Justice for […]
The Florida Senate is again taking steps toward a state constitutional amendment in opposition to the federal Affordable Care Act. The legislature pursued an amendment last year (Amendment 9), but state courts precluded it from appearing on the ballot by finding the ballot summary to be misleading. The Senate Judiciary Committee has passed a resolution by a […]
The new year marks a new beginning for Florida’s Financial Services Commission. Under Florida’s regulatory structure, the Governor and Cabinet make up the four-member Financial Services Commission. This collegial body has rulemaking authority for the Office of Insurance Regulation and Office of Financial Regulation. In addition, the Financial Services Commission is responsible for employing the […]
At least three-fourths of the next Financial Services Commission is known, as the races for Chief Financial Officer, Attorney General and Commissioner of Agriculture went to the Republican candidates. The fourth member of the Financial Services Commission– the Governor, remains to be determined although Republican Rick Scott continues to lead the tight race by a […]
With a little more than a month to go until the general election, the races to determine the future makeup of Florida’s Financial Services Commission appear they will go down to the wire. Under Florida’s unique regulatory structure, the Financial Services Commission consisting of the Governor, Chief Financial Officer, Attorney General and Commissioner of Agriculture, […]
