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 …

By Jeff Rainey and Claude Mueller The NAIC National Treatment and Coordination (E) Working Group is exposing for comments updated Proforma Financial Statement Templates, formally known as Form 13.  These forms are required in many state application scenarios such as UCAA Primary and …

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 …

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 …

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 …

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 …

By Claude Mueller, CPCU, ARe Financial reporting for reinsurance on Schedule F will look quite different beginning with the 2018 Annual Statement.  The National Association of Insurance Commissioners (NAIC) Blanks Working Group adopted changes on April 8, 2017 that consolidate …

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, …

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 …

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 …