Category: Insurance Regulatory News
Apr 8, 2010
Citizens Property Insurance Corporation (“Citizens”) announced that it closed on a $2.4 billion dollar bond sale for its High-Risk Account on April 6, 2010. Citizens expects to have approximately $14 billion in readily available cash resources to pay any 2010 …
Apr 8, 2010
To view a complete story, click on a headline below: Florida regulators: Miami insurance company insolvent State regulators have declared Miami-based Northern Capital Insurance Co. to be insolvent and they’ve urged its 74,000 customers to seek new …
Apr 8, 2010
Insurer coverage selections and premium calculations for the 2009/2010 Florida Hurricane Catastrophe Fund (“FHCF”) Contract Year have been updated as of March 31, 2010. To view this data, click here. Coverage selections and premium calculations also have been updated …
Apr 8, 2010
A review of AIR Worldwide Corporation’s (“AIR”) Atlantic Tropical Cyclone Model V12.0 submission will be the focus of a Florida Commission on Hurricane Loss Projection Methodology teleconference scheduled for April 15, 2010 from 1:00 p.m. to 5:00 p.m. (EST). …
Apr 7, 2010
In a letter today, April 7, 2010, Florida Insurance Commissioner Kevin McCarty notified Florida Chief Financial Officer Alex Sink that Northern Capital Insurance Company is insolvent. He also indicated that liquidation of the company appears to be a strong …
Apr 7, 2010
The Centers for Medicare and Medicaid Services (“CMS”) has advised that a non-group health plan (“NGHP”) technical teleconference relating to Section 111 of the Medicare, Medicaid, and SCHIP Extension Act of 2007 (“MMSEA”) was incorrectly scheduled for April 14, 2010 …
Apr 7, 2010
To view a complete story, click on a headline below: Blog: Crist threatens any bill that favors property insurers Republican Gov. Charlie Crist just said he would veto any bill that favors the property insurance industry. That …
Apr 6, 2010
This article was pupblished by the News-Journal Online on April 6, 2010. By STATE REP. BILL PROCTOR, COMMUNITY VOICES A serious threat to Florida’s economic recovery is the possibility that a major hurricane will strike a large metropolitan area this …
Apr 6, 2010
This article was published by the Insurance Journal on April 5, 2010. Florida’s 21st Century Holding Co. announced that its subsidiary Federated National Insurance Co. (FNIC) has received a capital infusion of $10 million. The transaction follows the previously announced …
Apr 6, 2010
This article appeared in the Tallahassee Democrat on April 5, 2010: By Jim Ash FLORIDA CAPITAL BUREAU Florida is one major hurricane from financial ruin, insurance companies need more freedom to raise rates, and lawmakers need to rein in Citizen’s …