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The 2021 Florida Legislature spent several months evaluating property insurance reform proposals. The committee hearing process included testimony from Insurance Commissioner David Altmaier, Citizens Property Insurance Corporation CEO Barry Gilway and many others. Despite these months of analysis, the primary property insurance reform bill (SB 76) was amended several times in the last week of […]
The 2021 legislative session is entering its final week, barring an extension. As usual, key insurance legislation remains unresolved in the session’s final days. The session began two short months ago with Insurance Commissioner David Altmaier and Citizens Property Insurance Corporation CEO Barry Gilway discussing problems plaguing Florida’s residential property insurance market. Commissioner Altmaier later […]
The Florida Office of Insurance Regulation (OIR) recently analyzed nationwide homeowners insurance claims and litigation data and reached a well-known but unfortunate conclusion– Florida leads the country in litigation by a staggering margin. OIR aggregated market conduct survey data related to lawsuits opened throughout the United States from 2016 through 2019 (the last year for […]
The annual 60-day legislative session begins in Florida on March 2, 2021. This session will feature accommodations designed to limit exposures to COVID-19. This includes most public testimony being presented by video stream from an offsite location in downtown Tallahassee. From an insurance perspective, the session will include substantial discussion about the auto and property […]
In most its recent Insurance Insights update, the Florida Department of Financial Services (DFS) reminded licensees that unlicensed personnel can perform only limited activities within an insurance agency. Rule Chapter 69B-222, Florida Administrative Code, outlines permitted and prohibited activities for unlicensed personnel. The rules focus on ensuring that unlicensed individuals are involved in certain types […]
The Florida legislature is returning to Tallahassee and preparing for its upcoming 2021 legislative session. Several key legislative committees hold hearings this week including the Senate Banking and Insurance Committee. The agenda for this week’s Banking and Insurance Committee meeting consists of presentations by Insurance Commissioner David Altmaier and President and Chief Executive Office of […]
Florida Insurance Commissioner David Altmaier takes over as president of the NAIC effective January 2, 2021. Altmaier succeeds outgoing president Ray Farmer of South Carolina. Commissioner Altmaier has served as Florida’s Insurance Commissioner since 2016. He previously held held several positions within the Florida Office of Insurance Regulation including Chief Analyst of the Property and […]
Florida’s Third District Court of Appeal (DCA) added to a list of cases upholding the ability of policyholders to assign post-loss benefits under insurance policies. The Third DCA reached this decision based on prior caselaw in Florida. However, the court also acknowledged that the Florida legislature revised Florida law in this area after the events […]
In their recent fall meeting, members of the National Association of Insurance Commissioners (NAIC) elected Florida Insurance Commissioner David Altmaier as the NAIC’s next president. Altmaier succeeds outgoing president Ray Farmer of South Carolina. Commissioner Altmaier has served as Florida’s Insurance Commissioner since 2016. Prior to being named Florida’s commissioner, Altmaier has held several positions […]
The beginning of December commences a celebratory time for many Floridians— the Atlantic Hurricane Season ends on November 30 each year. In 2020, we can be particularly thankful to see this hurricane season end. Hopefully this will not be ruined by any post-season storms. The 2020 season set a record for named storms with 30, […]
