Radey is an AV-rated firm consisting of lawyers who practice before state agencies and in all state and federal courts.
If requested by interested parties, the Florida Office of Insurance Regulation (OIR) will hold a workshop to discuss a proposed rule relating to life and health reinsurance collateral requirements. The Office of Insurance Regulation may allow ceding insurers to take credit for reinsurance with unauthorized reinsurers that do not fully collateralize their programs as long […]
The Florida Hurricane Catastrophe Fund (FHCF) has a rule hearing scheduled for 9:00 today relating to its reporting and insurer responsibility rules. Administrative rule 19-8.029 pertains to insurer reporting requirements, and rule 19-8.030 sets forth insurer responsibilities. The purpose of the rule hearing is to discuss the rules and receive public input pertaining to the […]
Governor Rick Scott was presented with several insurance-related bills on Friday, perhaps most notably including the bill reforming Florida’s Personal Injury Protection (PIP) laws. These bills passed during the recent legislative session. The Governor has 15 days from receipt of the bills to decide whether to sign them into law, allow them to become law […]
Citizens Property Insurance Corporation’s claims volume is up but policyholder satisfaction has increased according to claims performance measures through the first quarter of 2012. Based on activity through the first quarter Citizens estimates it will receive First Notice of Loss on approximately 70,000 claims in 2012. This would be an increase over the 66,044 First […]
Citizens Property Insurance Corporation recently indicated that as of March 31, 2012, it had completed processing 158,135 reinspections relating to mitigation discounts, with 68% of the reinspections showing a need for premium adjustments. The reinspections include 62% showing a premium increase (i.e., removal of credits) and 6% showing a premium decrease (i.e., additional credits warranted). […]
The Office of Insurance Regulation (OIR) and other state agencies are considering the implementation steps needed for the recently passed Personal Injury Protection (PIP) reform bill (HB 119). One of the key upcoming action steps is for insurers to make their initial rate filings responding to cost savings resulting from the new law. The filing […]
The Florida Association of Counties announced this week that it would challenge HB 5301, which passed in the recent legislative session and has been signed into law by Governor Rick Scott. Three counties (Pasco, Manatee and Leon) have indicated they will join the association’s suit and other counties also are expected to do so. The counties […]
The key Senator and Representative who promoted the Florida Hurricane Catastrophe Fund (FHCF) right-sizing proposal expressed disappointment that the bills did not receive more attention in the recently concluded session. At least in the case of those who are eligible to return to the legislature next year, they vow to keep pushing for the reform. […]
The efforts of a Tampa company to solicit chiropractors to circumvent PIP reforms has drawn adverse reactions from legislators and insurance regulators. Governor Scott has not yet acted on the bill passed at the end of the 2012 legislative session, but he worked hard with legislators to pass the bill and is expected to sign […]
Governor Rick Scott has signed a bill into law changing the way Citizens Property Insurance Corporation will levy assessments following a storm. The bill (HB 1127) had the support of the Office of Insurance Regulation, the Insurance Consumer Advocate, Citizens and the insurnace industry. Under the new law, Citizens will not levy regular assessment on the personal lines […]
