Latest Florida Headlines
All the headlines from our Florida Topic Page, ordered by recency.
Florida Workers’ Compensation Market in Good Shape, Says State
Jan 8 2009 // Availability and affordability in Florida’s voluntary workers’ compensation market overall is good, although small firms, new firms and construction firms might face affordability issues due to unique...
Four in Florida Charged in $1 Billion Viatical ‘Ponzi’ Scheme
Jan 6 2009 // Four Mutual sales agents with Mutual Benefits Corp., a viatical and life settlement company, for their alleged involvement in a scheme that officials say raised more than $1.25 billion from more than 30,000 investors...
Florida Task Force Set to Vote on Citizens Insurance Reforms Today
Jan 6 2009 // An 11-member task force charged with making recommendations on how to depopulate Florida’s high risk property insurer and return it to its original purpose as a market of last resort is voting today in Tampa...
Marsh Settles Insurance Bid-Rigging Charges with 9 States for $7 Million
Jan 6 2009 // Nine states have reached a $7 million settlement with New York-based insurance broker Marsh, Inc., Marsh & McLennan Companies, Inc., resolving a four-year investigation into Marsh’s role in a nationwide bid...
Group Tackles Hurricane Products That Don’t Meet Florida Code
Dec 23 2008 // Bill Feeley, president of the International Hurricane Protection Association (IHPA), announced the formation of the Consumer Safety Task Force for Hurricane Protection Products, intended to act in unison with the Florida...
Other Agency/Brokerage Transactions in 2008
Dec 21 2008 // Transactions involving agencies and brokerages other than the Brown & Brown, Arthur J. Gallagher and Hub International (see below) deals in the months announced or completed: January California: R.E. Chaix &...
Top Regional Stories of 2008
Dec 21 2008 // West California Passed Agent-Broker Law The most notable bill affecting California agents was AB 2956, which clarifies the duties of an insurance agent versus a broker. Prior to the new law, confusion existed within the...
BB&T to Acquire Florida’s J. Rolfe Davis Insurance
Dec 19 2008 // BB&T Insurance Services, the nation’s sixth largest insurance broker, reports it plans to acquire J. Rolfe Davis Insurance of Maitland, Fla. Founded in 1942 by former Orlando mayor J. Rolfe Davis, the...
A.M. Best Restores Ratings of Insurers Tied to Florida Hurricane Fund
Dec 19 2008 // Following the completion of the 2008 hurricane season, A.M. Best Co. has removed from under review and affirmed several insurers’ ratings it had issued in October when there was concern over the insurers’...
Florida High Court Nixes Business Liability Waivers Affecting Children
Dec 18 2008 // The Florida Supreme Court has ruled that a parent can’t execute an injury liability waiver for a minor child when the liability release involves participation in a commercial, as opposed to community or nonprofit,...
Florida Hears 18.6% Workers Comp Rate Hike Bid Today
Dec 16 2008 // The Florida Office of Insurance Regulation has scheduled a hearing today to consider a proposed 18.6 percent workers compensation rate increase. The proposal made by the National Council on Compensation Insurance (NCCI) on...
SEC Investigating Florida’s Citizens Over Bid Placements
Dec 15 2008 // The Securities and Exchange Commission is investigating the state-backed Citizens Property Insurance Corp. on bid placements earlier this year on auction rate securities. The SEC issued a subpoena June 24 seeking documents...
Florida Supreme Court Won’t Review ‘Inherently Dangerous’ Product Case
Dec 15 2008 // The Florida Supreme Court has let stand a Broward County smoker’s $545,000 award in a tobacco case that also may affect liability claims for a broad range of other “inherently dangerous” products. Those...
State Farm Loses Second Bid for 47% Rate Hike in Florida
Dec 15 2008 // An administrative law judge in Florida on Friday rejected a 47.1 percent average rate increase sought by State Farm Florida, the state’s largest privately owned property insurer. The Florida-only affiliate of...
As Domestic Insurers Multiply, Industry Applauds Florida’s Licensing
Dec 11 2008 // Florida’s domestic insurers continue to take on a larger and larger role in the state’s property insurance market. The latest data from Florida’s Office of Insurance Regulation show the domestic market...
Insurers Seek Cut in Florida Hurricane Fund Charges to Reflect Reality
Dec 10 2008 // Property/casualty insurers in Florida believe they are being overcharged for coverage from the state’s hurricane fund and some of them are looking for a refund. Insurers contend that the state fund is only...
Florida Insurance Office Earns Accreditation Renewal
Dec 9 2008 // The Florida Office of Insurance Regulation has been recognized at the National Association of Insurance Commissioners (NAIC) Winter National Meeting for renewal of its Financial Regulation Standards accreditation. The...
Florida Commissioner McCarty Elected Officer by Fellow Regulators
Dec 8 2008 // Florida Insurance Commissioner Kevin McCarty has been elected secretary-treasurer for the National Association of Insurance Commissioners (NAIC). Since his appointment as Florida’s insurance commissioner in 2003,...
Florida Renters Without Insurance Struggle to Recover from Fires
Dec 8 2008 // Months after wildfires destroyed dozens of homes in Palm Bay, Florida, frustrated renters in the area say they’re having trouble getting back on their feet. Homeowners can receive help from Palm Bay through a $1...
Florida Municipal Trust Adds 20 Members
Dec 5 2008 // The Florida Municipal Insurance Trust (FMIT) says it has added 20 new cities to its roster of clients and experienced a 96 percent renewal rate among existing customers. The nonprofit organization provides workers’...
