Could be. The Ark Royal policy language was approved by the FL OIR several years ago before the AOB issue became a real problem. Have to give them credit for being ahead of it. It’s my understanding that other companies that have recently tried to insert the language in their policies have been denied.
Further interesting that ASI/Ark Royal had slid that form filing in during a State-sanctioned exemption period: “Karen Kees, OIR deputy director of communications, said between June 2012 and June 2013, OIR had a “historically high number of property and casualty forms being filed for review and approval,” so it issued a set of orders exempting certain forms from the standard personal lines property insurance form filing and review requirements. The orders temporarily permitted companies to voluntarily submit these filings as informational only to OIR, meaning OIR did not review or approve them prior to use. These informational filings, which are no longer being used for personal lines property insurance forms, were required to be accompanied by a notarized certification from specific individuals within the company stating they fully complied with current law,” Kees said.”
This isn’t an insurance issue anymore, it needs to be settled at a state/federal law level to apply to all insurance companies.
This could be interesting. Florida HO carriers have been trying to an absolute AOB exclusion done for several years. Could this be an opening?
Could be. The Ark Royal policy language was approved by the FL OIR several years ago before the AOB issue became a real problem. Have to give them credit for being ahead of it. It’s my understanding that other companies that have recently tried to insert the language in their policies have been denied.
Further interesting that ASI/Ark Royal had slid that form filing in during a State-sanctioned exemption period: “Karen Kees, OIR deputy director of communications, said between June 2012 and June 2013, OIR had a “historically high number of property and casualty forms being filed for review and approval,” so it issued a set of orders exempting certain forms from the standard personal lines property insurance form filing and review requirements. The orders temporarily permitted companies to voluntarily submit these filings as informational only to OIR, meaning OIR did not review or approve them prior to use. These informational filings, which are no longer being used for personal lines property insurance forms, were required to be accompanied by a notarized certification from specific individuals within the company stating they fully complied with current law,” Kees said.”
This isn’t an insurance issue anymore, it needs to be settled at a state/federal law level to apply to all insurance companies.