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The Florida legislature is returning to Tallahassee and preparing for its upcoming 2021 legislative session. Several key legislative committees hold hearings this week including the Senate Banking and Insurance Committee. The agenda for this week’s Banking and Insurance Committee meeting consists of presentations by Insurance Commissioner David Altmaier and President and Chief Executive Office of […]
The Department of Business and Professional Regulation recently held a rule hearing relating to two rules– 61-31.701 “Minimum Standards of Practice for Mold Assessors” and 61-31.702 “Minimum Standards of Practice for Mold Remediators.” Several representatives of the insurance industry participated in the hearing, as did representatives of the mold assessment industry, mold remediators, home builders […]
flood insurance, OIR, reinsurance costs, Citizens Property Insurance Corporation, Insurance Regulation
Two rules proposed by the Department of Business and Professional Regulation are prompting concerns among property insurers over their potential impact on water damage claims. One of the most prevalent questions in the property insurance arena current is whether insurance rates are going down commensurate with reductions in reinsurance prices in recent years. Declining reinsurance […]
The Florida Office of Insurance Regulation responded to Chief Financial Officer Jeff Atwater’s request for an analysis of whether insurers are reflecting reduced reinsurance costs in their rate filings. Based upon a detailed review of filings that have been made by insurers among Florida’s Top 30 in writings, the OIR has concluded that insurers indeed […]
In the property insurance arena, the legislative process is a delicate balancing act as the House and Senate attempt to make adjustments that will lead to insurance coverage that is both available and affordable while also ensuring that consumers are protected. SB 408, which recently passed in the legislature and is awaiting action by Governor […]
