Category: Insurance Regulatory News
Jul 10, 2018
July 2018 Here’s your update on Florida insurance-related legal developments from the Colodny Fass Insurance Litigation Practice. Florida Insurance Matters is a monthly update on Florida insurance-related legal developments by the Colodny Fass Insurance Litigation Practice, recently recognized as the …
Jul 6, 2018
Cost savings in two Florida funds paid into by workers’ compensation carriers are expected to equal a nearly $20 million reduction in expenses for insurers operating in the state next year, according to a statement from the Florida Department of …
Jun 28, 2018
We appreciate the Herald’s efforts to educate its readers on the financial health of the state’s home insurers (“Now is the time to evaluate your hurricane insurance. It isn’t as simple as you think,” June 18). However, the story is …
Jun 28, 2018
The global reinsurance industry demonstrated resiliency following the record level of catastrophe losses in 2017, as very strong capitalization and effective risk management enabled the sector to absorb the multiple hits from Mother Nature and broadly maintain financial strength. Favorable …
Jun 25, 2018
The American Insurance Association and the Property Casualty Insurers Association of America are in talks to merge their organizations into one trade association. The boards of the Washington-based AIA and Chicago-based PCI “believe there is great benefit in a more …
Jun 25, 2018
Moody’s Investors Service announced it is upgrading the state of Florida to its highest credit rating, citing “sustained” improvement in the state’s economy and a “proven track record of rebounding from severe weather events.” The ratings agency said Thursday that …
Jun 21, 2018
Citizens Property Insurance will delay any decision on 2019 rate increases until December, with officials saying they want to assess the impact of a new program designed to curb the cost of non-weather water claims. The Citizens Board of Governors, …
Jun 20, 2018
Citizens Property Insurance Corp., the Florida state-run insurer of last resort, has devised a new policy requiring lobbyists seeking to lobby the insurer to register via a new online registration system. The new corporate policy comes in response to a …
Jun 20, 2018
Unless the state Legislature implements restrictions on assignment of benefits (AOB) agreements between property owners and contractors, Florida’s publicly owned property insurer could be litigated into imposing “dramatic” rate hikes on nearly a half-million homeowners. Citizens Property Insurance Corporation President …
Jun 20, 2018
Citizens Property Insurance is poised to delay a 7.9 percent rate increase for policyholders, after some board members suggested Tuesday another rate hike may be too soon following a May 1 increase. The Citizens Board of Governors, which oversees the …