Category: Insurance Regulatory News
Nov 20, 2017
Florida opens delinquency proceedings for allegedly insolvent insurer Florida’s Office of Insurance Regulation is asking the state’s chief financial officer to initiate delinquency proceedings against an insurer underwriting workers compensation, claiming the company “is impaired or insolvent” or “is about …
Nov 16, 2017
People’s Trust Insurance Sues Dozens Of Its Own Policyholders In Claims Disputes The Deerfield Beach-Based Insurer, opening a new front in the long-running war over Third-Party Claims Assignments, has filed more than 80 Lawsuits against Customers it accuses of failing to …
Nov 16, 2017
Court tosses out verdict against tobacco companies A Florida appeals court ordered a new trial involving tobacco companies, THE NEWS SERVICE OF FLORIDA reports via FloridaPolitics.com. Chicken processor settles water pollution suit in Florida The company was cited multiple times …
Nov 15, 2017
The Florida Building Commission (“Commission”) will be accepting written comments until December 6, 2017 on proposed changes to Florida Building Code amendment procedure, as well as Rules relating to Commission organization and operations. The proposed changes, which would bring the …
Nov 15, 2017
House Wades Into Property Insurance Controversy The House Judiciary Committee approved the Proposal (PCB JDC 18-01) to revamp the Insurance Practice known as “Assignment of Benefits.” The Bill, in part, would seek to curb litigation about Claims and impose new …
Nov 14, 2017
Florida Approves Workers’ Comp Rate Decrease of Nearly 10% Florida Insurance Commissioner David Altmaier has issued a Final Order granting Approval to the National Council on Compensation Insurance for a Statewide Overall Rate Level Decrease of 9.5 percent and Premium Level Decrease …
Nov 8, 2017
Heritage takes over policies from troubled Sawgrass Mutual Heritage said it believes the acquisition will increase the company’s operating income and make its book of business more attractive to reinsurers, the Sun-Sentinel’s Ron Hurtibise reports. Jeff Garretson, Vice President of …
Nov 7, 2017
Hurricane Irma Claims Reach $5.5 Billion In the eight weeks since Irma rampaged through the State, the estimated Insured Losses from Property Owners now stands at $5.55 Billion, according to an updated Report Monday from the Florida Office of Insurance …
Nov 6, 2017
Rulemaking is underway for the proposed 2018-2019 Florida Hurricane Catastrophe Fund (“FHCF”) Reimbursement Contract, which is regulated by Rule 19-8.010, F.A.C. In addition to having obsolete material deleted, the proposed Rule could also include a provision for an alternative procedure …
Nov 6, 2017
Lawmakers Foresee “Headwinds” In Passing Major Insurance Legislation Republican Senator Anitere Flores, who represents the Irma-battered Florida Keys, said Friday that Property Insurance will be the “Main” Insurance Issue she will tackle in the upcoming Legislative Session. FloridaPolitics.com’s Ana Ceballos reports. …