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The Florida Office of Insurance Regulation has released its most recent annual report discussing the state of Florida’s workers’ compensation insurance market. According to section 627.211(6), Florida Statutes, the Office of Insurance Regulation must prepare a report for the legislature each year assessing the competitiveness of Florida’s workers’ compensation market. In this year’s report, the […]
The Florida Office of Insurance Regulation has issued a revised Order numbered 130176-12 relating to exempting certain property and casualty insurance forms from the statutory review and approval process. The new Order replaces Order 126368-12 issued June 25, 2012. Under the new order, insurance company officials may continue to submit certifications with their form filings […]
Insurance Regulation News, workers' compensation, Office of Insurance Regulation, Kevin McCarty, NCCI
Insurance Regulation News, workers' compensation, Office of Insurance Regulation
The Florida Office of Insurance Regulation cited a recent Oregon Department of Consumer & Business Services (DCBS) study showing that Florida has jumped 11 spots (from 40th to 29th) among the most expensive state for workers’ compensation insurance. The study compared each state’s rates to the national median rate of $1.88 per $100 of payroll. Notably, however, Florida’s […]
Insurance Regulation News, workers' compensation, Office of Insurance Regulation
The National Council on Compensation Insurance (NCCI) has delivered its annual workers compensation rate filing to the Office of Insurance Regulation (OIR). The filing provides for an overall workers compensation rate level increase of 6.1%. The proposed effective date is January 1, 2013. Even with the proposed increase, the filing still reflects a significant reduction in rate […]
Department of Financial Services, insurance fraud, Insurance Regulation News, Jeff Atwater, workers' compensation
The campaign commercials on TV are a constant reminder that the fall election cycle is rapidly approaching. The presidential election commands most of the attention, but state legislative races have the most immediate bearing on insurance legislation in this state. As soon as the winners emerge from this fall’s elections, the legislature will hold and […]
The Office of Insurance of Insurance Regulation has issued a second order allowing property and casualty insurers to certify their forms’ compliance with Florida law rather than going though the regulatory process. The current order applies to all property and casualty lines of business other than workers’ compensation. A similar order issued earlier this year […]
