Florida Office of Insurance Regulation (OIR) News

Florida’s Capitol Preferred to Shed Nearly 24K Policies; Regulator to Monitor Operations

Capitol Preferred Insurance Co., one of the top writers of homeowners insurance in Florida, has received approval from the state’s insurance regulator to shed 23,800 policies just weeks before the start of hurricane season. In a May 12 consent order, …

Florida Directs Workers’ Comp Insurers to Comply with COVID-19 Treatment Order

The Florida Office of Insurance Regulation has issued an informational memorandum to all insurers and entities authorized to write workers’ compensation insurance providing guidance on the treatment of policyholders affected by COVID-19. The memorandum is in response to Chief Financial …

Florida Regulator Outlines How Industry Can Help Insureds During COVID-19 Response

The Florida Office of Insurance Regulation has issued an additional memorandum related to the coronavirus outbreak to all the insurers and entities it regulates in an effort to provide general guidance on the treatment of policyholders, according to a statement …

Southeast Insurance Regulators Issue Industry Guidance for Coronavirus Outbreak

Insurance departments across the Southeast are notifying industry representatives of updated procedures and expectations in response to the coronavirus outbreak, while also acknowledging the potential for a serious impact on state insurance operations, agents and policyholders. In some cases, regulators …

Florida Regulator Directs Insurers to Prepare for Coronavirus-Related Interruptions

The Florida Office of Insurance Regulation (OIR) is directing all insurers to review and update their business continuity and/or continuity of operations plans in light of the current outbreak of coronavirus strain COVID-19. In a memorandum issued by OIR March …

Florida Carriers Seek Staggering Rate Increases Amid Market Turmoil

It’s no surprise that Florida carriers are raising homeowners’ insurance rates given several years of catastrophes and losses from litigation related to assignment of benefits and water damage claims. What may be surprising for insureds, however, is how substantial the …

HCI Approved by Florida Regulator to Replace Anchor P&C Coverage for 43K Insureds

The Florida Office of Insurance Regulation has approved a plan for Homeowners Choice Property and Casualty Insurance Company, a subsidiary of HCI Group, to provide replacement policies for Anchor Property and Casualty Insurance Co. policyholders. The approved plan provides policyholders …

More Than a Dozen Florida Insurers Facing Ratings Downgrades

The rating agency responsible for assigning financial stability ratings (FSR) to more than 40 Florida domestic insurers has warned that several carriers will receive downgrades due to deteriorating conditions in the state’s property insurance market, and more than a dozen …

Sitte Appointed Government Affairs Director for Florida Office of Insurance Regulation

Florida Insurance Commissioner David Altmaier has appointed Allison Hess Sitte as Government Affairs director for the Office of Insurance Regulation (OIR), effective Monday, Dec. 2, 2019. Sitte most recently served as the director of Legislative and Cabinet Affairs at the …

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 …