Radey is an AV-rated firm consisting of lawyers who practice before state agencies and in all state and federal courts.
One of the questions we receive from time to time is whether certain activities require an individual or business to obtain an agents’ license in Florida. The Florida Department of Financial Services recently addressed this in a short article describing what it means to “transact” insurance in Florida. In general, a person must obtain an […]
The Florida Department of Financial Services has reminded agencies that each insurance agency, and each location of a multiple location agency, must have a designated agent in charge. The agent in charge (AIC) is defined as the licensed and appointed agent responsible for the supervision of all individuals within an insurance agency. Each business location […]
The Department of Financial Services has reminded agencies of the statutory prohibition against misleading names. Section 626.602, Florida Statutes, allows DFS to disapprove an agency’s name if the name may mislead the public or if the name implies the agency is an insurer, state or federal agency, charitable organization, or an entity that provides advice and […]
The National Council on Compensation Insurance (NCCI) has revised its previous 17.1% rate increase filing in light of the Florida Supreme Court’s recent decision in Westphal. The proposed increase is now 19.6%. The effective date of the proposed rates is October 1, 2016. However, the Office of Insurance Regulation has scheduled a public hearing on […]
Continuing concerns with water damage claims issues have prompted the Board of Governors of Citizens Property Insurance Corporation to sign off on a proposed 6.8 percent statewide rate increase. This reflects the average rate change, with some territories experiencing greater increases. In addition, the amount that Citizens can increase any policyholder’s rates is capped by […]
For the second time in six weeks, the Florida Supreme Court has held part of Florida’s workers’ compensation law to be unconstitutional. In Westphal v. City of St. Petersburg, the Supreme Court considered the constitutionality of section 440.15(2)(a), Florida Statutes, which cuts off disability benefits at 104 weeks for a worker who is totally disabled […]
Tropical Storm Colin underscored recent reminders about the need to be vigilant during hurricane season. As we entered last weekend, there was barely a mention of a storm event affecting Florida this week. However, seemingly from nowhere, Colin emerged and began making its way to the Florida gulf coast. By Monday, Governor Rick Scott declared […]
Since a Florida Supreme Court ruling last month, the Florida workers’ compensation market has been the subject of considerable speculation regarding the potential rate impact. That question was answered last week when the National Council on Compensation Insurance (NCCI) submitted a filing to the Florida Office of Insurance Regulation (OIR) providing for a 17.1 percent […]
Florida’s exit from the Nonadmitted Insurance Multi-State Agreement (NIMA) takes effect June 1. Florida becomes the second state to leave NIMA after Louisiana exited the agreement last year. Representatives of the Florida Office of Insurance Regulation (OIR) commented that while NIMA achieved its intended benefits for the participating states, they are disappointed that participation did […]
The Florida Office of Insurance Regulation has issued a request for proposals from firms interested in performing an analysis of alternatives to Florida’s Personal Injury Protection (PIP) laws. The OIR intends to engage a firm this month, with a goal of presenting a final report to executive and legislative branch officials by September 2. The […]
