A Florida House of Representatives panel went straight to the source of a consultant’s report that has caused widespread concern among lawmakers about insurance company profit-shifting. But the hour-long web interview with Arizona-based consultant Jan Moenck shed only limited light …
The Florida Office of Insurance Regulation provides a rate comparison tool on its website for homeowners’ and auto insurance, allowing consumers to view estimated premiums for limited types of properties and policyholders. Under a bill approved by the Florida Senate …
As consumer complaints have apparently mounted over unpaid hurricane losses, Florida’s top insurance regulator and some lawmakers are signaling new scrutiny on insurance carriers’ claims-handling and other practices. Florida Insurance Commissioner Michael Yaworsky late last week posted a memo, demanding …
Just as many Florida property insurers had hoped to see a boost to the private market with a maximum rate increase for Citizens Property Insurance Corp., state regulators have slashed the rate hike by more than half. After an unusually …
Two Florida-based insurance companies are expanding their product lines, another sign that insurers are making more – if limited – moves into a warming market in the state. Amelia Underwriters, a wholesale and surplus lines broker based in Fernandina Beach, …
Florida’s insurance commissioner this week issued emergency orders, extending some policyholder cancellation protections in the wake of Hurricanes Helene and Milton. The orders, seen here and here, are in line with similar actions taken after hurricanes. The orders: Extend grace …
Current and former leaders with Florida property insurers have had some strong reactions to state regulators’ recent efforts to oust company executives who previously helmed now-insolvent carriers. Some have called the unprecedented regulatory action unfair, misguided and impossible to substantiate, …
The Florida Office of Insurance Regulation is reminding carriers that additional data is due April 17 on Hurricane Ian claims. All property insurers are required by law to submit the enhanced catastrophe reports, including additional claims and other data gathered …
When Allstate’s Florida unit, Castle Key Indemnity Co., entered the surging condominium insurance market in 2020, it looked like it had made a smart bet: Within two years, the carrier had added no fewer than 123,000 policies. Then came reinsurance …
The Florida Office of Insurance Regulation wants property insurers to remember that another deadline for enhanced catastrophe reporting on Hurricane Idalia claims is Nov. 16. The OIR is required by law to collect a range of data on hurricane claims. …
