Florida Cabinet must say No to higher insurance rates
Florida CAT Fund, property insurance, reinsurance, Insurance Regulation
News & Updates
reinsurance
House Workshop on Assignment of Benefits Today
The House Insurance Committee will hold a workshop at 4:00 today on the assignment of benefits issue. This issue has attracted attention as one of the leading causes of upward pressure on homeowners insurance rates even when reinsurance costs have been declining and Florida has enjoyed a long run of hurricane-free years. An assignment of […]
Credit for Reinsurance
Travis Miller discusses proposed changes to the Office of Insurance Regulation’s rule on credit for reinsurance.
Storm Free Years and Stronger Private Market Improve Citizens’ Position
After the devastating series of storms in 2004 and 2005, Florida has enjoyed a run of essentially storm-free years. This has led to improved conditions in the private insurance market, and consequently to reductions in the policy count of Citizens Property Insurance Corporation. Citizens therefore expects that it in 2015 it will be able to […]
Homeowner’s Insurance: Higher Cost For Less Coverage
Governor Charlie Crist, Florida Legislature, Florida Hurricane Catastrophe Fund, reinsurance, Office of Insurance Regulation, Citizens Property Insurance Corporation, Insurance Regulation
Florida sees small break in deluge of rising property insurance rates
property insurance, Florida Legislature, reinsurance, hurricane season, Kevin McCarty, Insurance Regulation
OIR, CFO Comment on Property Insurance Rates
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 […]
Insurers push back on Atwater cost complaint
CFO Atwater still seeks property rate hike explanation as insurance costs rise
Office of Insurance Regulation, property insurance, Jeff Atwater, reinsurance, Kevin McCarty
Governor Scott Addresses Reinsurance Tax Issue
Governor Rick Scott expressed his opposition to federal legislation that would deny tax deductions for reinsurance premiums paid to foreign-based reinsurers affiliated with domestic insurers. Governor Scott outlined his concerns in a letter to U.S. Representative Vern Buchanan, Florida’s representative on the House Ways and Means Committee. (letter) Governor Scott indicates that the proposal will […]