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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 […]
property insurance, Florida Hurricane Catastrophe Fund Finance Corporation, reinsurance, Office of Insurance Regulation
Office of Insurance Regulation, Insurance Regulation News, Department of Financial Services, Florida Hurricane Catastrophe Fund, reinsurance, hurricane season
property insurance, Insurance Regulation News, Florida Legislature, reinsurance, Citizens Property Insurance Corporation
Insurance Regulation News, windstorm insurance, property insurance, reinsurance, Office of Insurance Regulation, Citizens Property Insurance Corporation
property insurance, Insurance Regulation News, reinsurance, hurricane season
property insurance, Insurance Regulation News, reinsurance, hurricane season, Citizens Property Insurance Corporation
If requested by interested parties, the Florida Office of Insurance Regulation (OIR) will hold a workshop to discuss a proposed rule relating to life and health reinsurance collateral requirements. The Office of Insurance Regulation may allow ceding insurers to take credit for reinsurance with unauthorized reinsurers that do not fully collateralize their programs as long […]
The member states of NIMA, the Non-Admitted Insurance Multi-State Agreement, approved a Premium Tax Clearinghouse services agreement and license agreement, through which NIMA, Inc. contracted with the Florida Surplus Lines Service Office (“FSLSO”) to act as its central clearinghouse for the collection and allocation of surplus lines premium tax payments for multi-state surplus lines policies. […]
A proposal to reduce the size of the Florida Hurricane Catastrophe Fund (FHCF) remains under consideration in the Florida Senate in the form of SB 1372. A similar proposal exists in the House of Representatives but has not advanced thus far in the 2012 legislative session. This proposal, which has been termed the FHCF “right-sizing” […]
