The Demotech financial review firm has withdrawn the stability ratings for two more property insurance companies, Bankers Specialty Insurance and First Community, both part of Bankers Insurance Group. The companies are headquartered in Florida but write mostly in Louisiana. In …
The Florida Office of Insurance Regulation (OIR) has joined as the 55th jurisdiction internationally to be admitted as a signatory to the International Association of Insurance Supervisors (IAIS) Multilateral Memorandum of Understanding (MMoU), Florida Insurance Commissioner Kevin McCarty announced. Established …
Florida’s second largest property insurer is paying a fine of $1.26 million. Florida Insurance Commissioner Kevin McCarty announced Monday that Universal Property & Casualty Insurance Co. has agreed to pay the fine and change its business practices. Universal has roughly …
Florida regulators are looking to fast track the approval of changes in insurance company property policy forms and coverages after building up a significant backlog due to the numerous law changes enacted in the past two years. As a result …
Florida residents will soon have a Web site tool to help them compare homeowners insurance coverage. The Florida Office on Insurance Regulation is launching an interactive computer program called the Consumer HomeOwners Insurance Comparison Electronic System, or CHOICES. Consumers can …
Florida lawmakers are trying to address the cost of sinkhole claims, which state officials and insurers say are driving up property insurance rates and could threaten the solvency of some domestic insurers if not brought under control. The Senate Banking …
A Texas insurance company and its owner are suing Florida Insurance Commissioner Kevin McCarty, accusing him of being vindictive and defamatory in his efforts to ban the company from writing workers’ compensation insurance in his state. Charles David Wood and …
