Radey is an AV-rated firm consisting of lawyers who practice before state agencies and in all state and federal courts.
Beginning in 2015, the National Hurricane Center will be experimenting with a new weather advisory system that it intends will become fully operational by 2017. The new system will include publishing storm surge watches and warnings independently of those associated with wind damage. The advisories will include maps in which areas marked in red are […]
Citizens Property Insurance Corporation recently announced that it had 727,122 policies as of November 30, 2014. This is about half of Citizens’ policy count a few years ago when it reached a high of about 1.4 million policies. The Citizens portfolio consists predominantly of personal residential policies, although it continues to have significant commercial exposure […]
The Office of Insurance Regulation has approved a statewide average rate decrease of 5.2% for workers’ compensation insurance effective as of January 1, 2015. The National Council on Compensation Insurance (NCCI) initially filed for a 2.5% decrease in August but later amended the filing to provide for a 3.3% decrease. The OIR reviewed the filing and […]
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%. […]
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, […]
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 […]
Insurance Commissioner Kevin McCarty welcomed a large group to Tallahassee on October 30, 2014, for the Office of Insurance Regulation’s 2014 industry conference entitled, “Navigating the Changing Insurance Environment.” The conference drew a large number of participants in person at the Florida State University Turnbull Conference Center, and others participated remotely through a live webcast. […]
The Florida Hurricane Catastrophe Fund (FHCF) recently announced that it anticipates being able to fully fund its $17 billion in initial season obligations and being able to support a large portion of a subsequent season’s obligations. Under its most recent projections, the FHCF would fall about $5 billion short of providing another $17 billion in […]
