Florida Insurance Commissioner David Altmaier News

Florida Legislature Passes Major Changes to Auto, Property Insurance Markets

Florida lawmakers passed two bills on the last day of their 2021 legislative session that make major changes to the state’s auto and property insurance markets. The actions follow weeks of back-and-forth debate on the proposals between the House and …

NAIC Data: Florida Property Lawsuits Total 76% of Insurer Litigation in U.S.

New information from Florida’s insurance regulator paints a stark picture of the extent of litigation facing the state’s domestic insurers. The information comes as numerous stakeholders push for legislative reforms to address the litigation issue they blame for fueling the …

Regulator Deems Florida-Based American Capital Assurance Corp. Insolvent

After negative moves by ratings agencies last month to address its financial issues, Florida’s insurance regulator says American Capital Assurance Corp. (AmCap) is insolvent and should be placed in receivership, In a letter dated April 2 to Chief Financial Officer …

What Stakeholders Are Saying About the Florida Insurance Market

Florida stakeholders are pushing hard for the Florida Legislature to enact property insurance reforms this year to help the state address what has been deemed a market crisis. Read on for what everyone from the state’s insurance consumer advocate, to …

Q&A With David Altmaier, President, National Association of Insurance Commissioners

Florida’s insurance regulator has a busy year ahead, and it won’t just include overseeing his own state’s insurance market, one of the most dynamic and complicated insurance markets in the world. Rather, for the next year, Insurance Commissioner David Altmaier …

Southeast Insurance Chiefs Farmer, Altmaier Elected to Top NAIC Posts

South Carolina Department of Insurance Director Ray Farmer and Florida Insurance Commissioner David Altmaier have been elected to the positions of president and president-elect, respectively, of the NAIC (National Association of Insurance Commissioners). The two were voted in at the …

Statewide Overall Decrease of 7.5% Approved for Florida Workers’ Comp Rates

Florida Insurance Commissioner David Altmaier has issued a final order granting approval to the National Council on Compensation Insurance (NCCI) for a statewide overall decrease of 7.5% for Florida workers’ compensation insurance rates. This applies to both new and renewal …

Florida’s New Consumer Advocate Tackles Open Hurricane Michael Claims

Florida’s new Insurance Consumer Advocate Tasha Carter has been busy since taking office August 1. With more than 12,000 Hurricane Michael claims still open, according to the Florida Office of Insurance Regulation, one of Carter’s top priorities has been to …

Florida Officials Say Insurers Not Doing Enough to Settle Hurricane Michael Claims

It’s been just over a year since Hurricane Michael made landfall in the Florida Panhandle, devastating the region as a Category 5 storm with 161-mph winds and causing more than $7.2 billion in estimated insured losses, according to the Florida …

Florida Regulator Calls Open Hurricane Michael Claims ‘Discouraging’; Plans Data Call

With more than 20,000 claims related to Hurricane Michael still open nine months after the storm hit the Florida Panhandle, Florida’s top insurance regulator is calling on the insurance industry to take “all actions necessary” to bring policyholder claims to …