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A hearing will take place today on the Office of Insurance Regulation’s proposed repeal of administrative rule 69O-142.011, sometimes called the “penalty rule.” The rule classifies many types of violations of the insurance codes into categories, ranging from the most severe to the relatively minor. The rule then sets forth ranges of potential penalties based on […]
The 2011 Florida Legislature established a new opportunity for insurers to inform policyholders of changes in their policies. Case law in Florida previously suggested that insurers seeking to continue coverage with material changes in terms should nonrenew existing policies and offer replacement policies with the new terms. This process could be confusing for policyholders, who […]
The Florida Office of Insurance Regulation and Insurance Commissioner Kevin McCarty continue to take a close look at lender-placed or force-placed insurance. In its most recent action, the OIR announced on Friday that it intends to disapprove a recent rate filing submitted by Praetorian Insurance Company (Praetorian). Praetorian submitted a rate filing proposing a modest statewide decrease […]
The Florida Hurricane Catastrophe Fund (FHCF) has announced a rule workshop for August 30, 2012, to discuss potential changes to Rule 19-8.010 relating to the reimbursement contract. Each year’s version of the reimbursement contract is adopted by the FHCF through formal rulemaking. The changes typically account for law changes as well as other clarifying or […]
One of the great benefits of Florida’s public records law is early and thorough access to information prepared for or on behalf of the government. At this same time, this access can lead to dissemination of information before it has been finalized or fully vetted. This is the case with the draft report titled “Impact Analysis of […]
TALLAHASSEE, July 30, 2012 – Tallahassee law firm Radey Thomas Yon & Clark, P.A. announced that Florida Trend magazine has again ranked it among the Top 100 Best Companies to Work for in Florida. Florida Trend annually ranks the “Best Companies to Work for in Florida,” and its August issue lists the 2012 winners. The […]
Florida’s Insurance Consumer Advocate Robin Westcott raised concerns about Citizens Property Insurance Corporation’s mitigation reinspection program at its recent board and committee meetings. Ms. Westcott also issued a press release saying that the inspection process is confusing, has inequitable results, and serves as a threat to Florida’s already vulnerable economy. “The current inspection process is working against the very […]
The Florida Office of Insurance Regulation recently summarized the status of implementation of federal health care reform at a meeting of the Florida Health Insurance Advisory Board. Michelle Robleto, the OIR’s Deputy Commissioner overseeing life and health insurance, provided the update. The OIR’s summary began with a recap of the new law, including the reforms […]
The campaign commercials on TV are a constant reminder that the fall election cycle is rapidly approaching. The presidential election commands most of the attention, but state legislative races have the most immediate bearing on insurance legislation in this state. As soon as the winners emerge from this fall’s elections, the legislature will hold and […]
Rate levels for Citizens Property Insurance Corporation once again will be in the spotlight this week. The board of governors will hold a workshop to discuss Citizens’ rate levels for the upcoming year. Under Florida law, Citizens submits recommended rates to the Florida Office of Insurance Regulation, which then is responsible for approving Citizens’ final […]
