Plans to rehabilitate Florida auto insurer Windhaven Insurance Co. have been deemed “useless” and the company will instead be liquidated. In a Jan. 6 order, Leon County Court Judge Ronald W. Flury said the Florida Department of Financial Services, which …
Florida’s insurer of last resort Citizens Property Insurance Corporation will make shrinking its policyholder count a priority next year, despite potential headwinds that may come from Florida domestic carriers raising rates and restricting coverage. Prompted by a request from Florida …
The future of another Florida domestic insurer is now in the hands of state regulators. Non-standard private passenger auto insurer Windhaven Insurance Co. (WIC), based in Miami, has been placed into rehabilitation by a Florida court and the Florida Department …
AAIS (the American Association of Insurance Services) has received approval for its new Florida Homeowners By-Peril Insurance Program from the Florida Office of Insurance Regulation (OIR). The AAIS Florida Homeowners By-Peril Program provides carriers operating in Florida a way to …
Policymakers need to find a way to get banks involved in property mitigation if Florida is to improve its hurricane resiliency, according to a former state insurance commissioner. Banks are currently unmotivated to protect mortgages through mitigation because the government …
Florida’s ongoing battle with assignment of benefits (AOB) claims abuse was not a new topic in 2017, but it was certainly one of the hottest ones for Southeast readers. From threats of insurer ratings downgrades caused by the escalation in …
The Office of Insurance Regulation (OIR) has introduced a new subscription service where consumers and other interested parties can sign up and receive their choice of communications from the Florida Office of Insurance Regulation (OIR). This includes notifications about important …
A.M. Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and Long Term Issuer Credit Rating of “a-” of Tower Hill Prime Insurance Co., headquartered in Gainesville, Fla. According to Best, …
Recent Florida Supreme Court decisions and ongoing abuse in Florida’s insurance market have led a ratings company to change the criteria it uses when rating insurers in the state. The announcement comes as insurers get ready to announce their 2016 …
“If you don’t read the newspaper, you are uninformed. If you do read the newspaper, you are misinformed.” Although the author is unknown, this comment is often attributed to Mark Twain or Thomas Jefferson. Having spent more than 27 years …
