Florida Cabinet Meeting Report: December 6, 2011

Dec 7, 2011


At the Florida Cabinet meeting yesterday, December 6, 2011, Florida Insurance Consumer Advocate Robin Westcott provided an update on Personal Injury Protection (“PIP”) insurance, explaining that she is continuing to work on her report from the recent PIP Working Group meetings she held in the context of her Office.  Additional data from the insurance industry has been received for the report, which will be released soon. 

Ms. Westcott recapped that she, along with Florida Governor Rick Scott and Florida Chief Financial Officer Jeff Atwater, met with consumers around the state regarding PIP.  She added that she was struck by the number of senior citizens who attended these meetings and fact that they expressed fear that they could be the target of fraud.  Additionally, many seniors are on fixed incomes and may not be able to afford the resulting premium increases.  Ms. Westcott also noted that PIP premiums could double in Florida within the next three years.

Florida Insurance Commissioner Kevin McCarty presented the Florida Office of Insurance Regulation (“OIR”) agenda to the Florida Cabinet, which assumed the role of the Financial Services Commission (“FSC”) for that portion of the meeting.

Commissioner McCarty requested approval for the publication of the repeal of Rule 69O-170, Part IV, which governs the arbitration of rate filings.  Arbitration for rate filings is no longer allowed under s. 627.062, F.S., therefore, the Rule is no longer necessary.  The request for publication was approved.

Approval also was granted for the publication of amendments to Rules 69O-200.004, .005, .006, .009, .014, and .015 relating to automobile manufacturers warranties.  These amendments are necessary due to legislative changes.

The FSC approved for final publication the changes made to Form OIR-B1-18-2.  Known as the “Uniform Mitigation Verification Inspection Form,”  This is the form that insurers use to verify that homes have been mitigated.  

This concluded the OIR agenda items.

To access a report on the Citizens Property Insurance Corporation portion of the meeting, click here


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