Radey is an AV-rated firm consisting of lawyers who practice before state agencies and in all state and federal courts.
The Florida Department of Financial Services (DFS) recently published a reminder relating to restrictions on referrals fees. DFS notes that it commonly receives questions about referral fees and periodically publishes guidance to remind licensees of applicable requirements. According to DFS, an agent may pay an unlicensed person for referrals of potential clients as long as […]
The Florida Office of Insurance Regulation (OIR) recently issued an order granting contingent approval to a statewide average rate increase of 14.5% for workers’ compensation insurance. The approval is conditioned upon the National Council on Compensation Insurance’s making certain revisions to its initial filing, which proposed a 19.6% increase. As ordered by the OIR, the rate […]
The Florida Department of Financial Services has published a compliance reminder relating to the registration of navigators. The following identifies the guidance recently published by DFS. What is a navigator? “Navigator” means an individual authorized by the Federally-Facilitated Exchange (Exchange), also known as the Marketplace to serve as a navigator, or who works on behalf […]
Daily routines are slowly returning to normal in Tallahassee. A week ago, we saw a storm in the Gulf of Mexico growing into a tropical storm and eventually into a hurricane. As we watched the “cone” in which it was expected to travel in the ensuing days, we soon realized that Tallahassee and our nearby […]
The Florida Office of Insurance Regulation will hold a public hearing on Citizens Property Insurance Corporation’s pending rate filings today in Tallahassee. The hearing begins at 9:00 a.m. in the Senate Office Building. The hearings will allow the Office of Insurance Regulation to publicly discuss and receive comments on the pending filings for Citizens for […]
The Florida Office of Insurance Regulation (Office) has scheduled two public hearings for today to discuss key long-term care rate filings that are pending before the Office. The filings relate to proposed rate increases submitted by Metropolitan Life Insurance Company (“Metlife”) and Unum Life Insurance Company of America (“Unum”). The Office has elected to host the public […]
As required by a law passed in 2013, the maximum Coverage A amounts for Citizens Property Insurance Corporation’s personal residential coverage will be reduced again effective January 1, 2017. Effective at the beginning of net year, the following new business and renewals for personal residential risks are no longer are eligible for coverage in Citizens: A structure […]
The Florida Office of Insurance Regulation (OIR) announced this week that filings of the National Council on Compensation Insurance (NCCI) are now available through the OIR’s I-File system. This includes prior filings dating back to the 2001 implementation of the electronic filing system. NCCI wrote to the OIR acknowledging that both the OIR and NCCI […]
The Florida Department of Financial Services from time to time takes enforcement actions against agents who charge unauthorized fees to policyholders. In these situations, the agents typically are receiving their commissions from the insurers and separately are telling consumers they also must pay add-on charges by various names– documents fees, notary fees, etc. In a […]
One of the questions we receive from time to time is whether certain activities require an individual or business to obtain an agents’ license in Florida. The Florida Department of Financial Services recently addressed this in a short article describing what it means to “transact” insurance in Florida. In general, a person must obtain an […]
