The Florida Office of Insurance Regulation (OIR) has taken the next step toward adopting administrative rules implementing recent legislation. The Financial Services Commission (FSC) recently authorized the OIR to formally publish drafts of the rules as proposed rules. The FSC consists of Florida’s Governor, Chief Financial Officer and Attorney General. These elected officials comprise a […]
The Florida Hurricane Catastrophe Fund (FHCF) recently projected a potential shortfall in its claims-paying capacity for the first time in many years. By statute, the FHCF provides up to $17 billion in reimbursement capacity to residential property insurers each year. However, that obligation is limited to the amount the FHCF actually can pay, if less […]
