Radey is an AV-rated firm consisting of lawyers who practice before state agencies and in all state and federal courts.
Florida’s Auditor General recently issued Report 2014-009 relating to its operational audit of the Florida Office of Insurance Regulation. The Office of Insurance Regulation in turn has provided its responses to the audit findings. The report identified the following four findings: Finding No. 1: Office policies and procedures should be enhanced to require that the […]
NIMA, Inc. has announcesthat premiums reported under the Non-Admitted Insurance Multi-State Agreement (NIMA) have now exceeded $500 million in the year since the clearinghouse became operational. The clearinghouse first became operational on July 1, 2012. NIMA, Inc. advised that $281 million of the $531 million in reported premium has been directly allocated to the six participating members of NIMA, Inc. About $250 million […]
NIMA announced in recent days that it has adopted a premium allocation method for distributing surplus lines premium taxes on casualty insurance. A NIMA release indicates that the newly adopted method will streamline the allocation and distribution of surplus lines premium taxes for surplus lines brokers and member states. NIMA believes it remains on track to launch its Surplus Lines […]
A proposal to allow surplus lines insurers to remove policies from Citizens Property Insurance Corporation failed in the waning days of the session. Lawmakers considered ways of reducing the size of Citizens, and one proposal that emerged was to allow surplus lines insurers to assume policies from Citizens using a process similar to that used […]
The Florida House of Representatives has advanced its version of the proposal allowing surplus lines insurers to take policies from Citizens Property Insurance Corporation, leaving the issue in the hands of the Senate. By a vote of 66-48, the House passed HB 245 allowing surplus lines insurers meeting certain requirements to enter into Consent Orders […]
