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FIO Requests Information on Climate Change

FIO Requests Information on Climate Change

The Federal Insurance Office (FIO) of the U.S. Department of the Treasury (Treasury) has issued a Request for Information (RFI) seeking public input on climate-related financial risks and their impact on the insurance industry. The RFI requests written comments from interested parties on or before November 15, 2021. As background, the FIO points out that […]

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DFS Reminds Agencies that Inspection Referral Fees are Prohibited

DFS Reminds Agencies that Inspection Referral Fees are Prohibited

The Florida Department of Financial Services has issued a reminder to insurance agents and agencies that referral fees for inspectors are prohibited.  DFS points out that an insurance agent, customer representative, or agency employee is prohibited from directly or indirectly accepting any compensation, inducement, or reward from an inspector for the referral of the owner […]

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Bills Would Limit Use of Drones But Preserve Insurance Uses

Bills Would Limit Use of Drones But Preserve Insurance Uses

Bills working their way through the 2015 legislative session would limit the use of drones with imaging devices, but would allow legitimate uses such as for insurance underwriting or claims activity.  SB 766 and HB 649 are moving through their respective chambers and would amend Florida’s Freedom from Unwarranted Surveillance Act.  The bills would restrict […]

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Office of Insurance Regulation Report Finds Workers’ Compensation Market Competitive

Office of Insurance Regulation Report Finds Workers’ Compensation Market Competitive

The Office of Insurance Regulation has released its 2014 annual report on the state of the Florida workers’ compensation insurance market.  The report concludes that the market currently is competitive, well-capitalized, and robust.  The report points out that six of the 10 largest workers’ compensation insurers in Florida are Florida-domiciled, up from four in the […]

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