The Florida Office of Insurance Regulation will conduct a virtual rate hearing this week on a proposed 24.9% rate increase filed by National Specialty Insurance Co. for its homeowners multi-peril lines of business. Velocity Risk Underwriters, LLC is the Florida …
The Florida Office of Insurance Regulation will conduct a rate hearing on Monday, March 15 on proposed rate increases from Citizens Property Insurance Corp. The hearing will be held virtually at 9 am EST and will include testimony and public …
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 …
It’s the start of another Florida Legislative Session with a familiar theme — insurers pushing for reforms they say are needed to help the state’s distressed insurance market. Only this year the need is more urgent than ever, according to …
After holding off on approving its 2021 rates last month, Citizens Property Insurance Corporation’s Board of Governors has approved rate recommendations that the insurer says will make its rates more competitive with the private market to slow the flow of …
Insurance advisory organization AAIS (American Association of Insurance Services) has received approval from the Florida Office of Insurance Regulation for its new predictive model. The AAIS Fire Loss and Mitigation Evaluation Score (FLAMES) was designed to improve on existing methods …
Florida’s fluctuating and volatile private market may be instigating long-term policy growth for Citizens Property Insurance Corp. and creating serious obstacles to its position as the state’s residual insurer, according to a new study. The 236-page “Exposure Reduction and Depopulation …
Citing a flood of new policies entering Citizens Property Insurance Corp. and a growing disparity between its rates and rising rates of private insurance companies, the board of Florida’s insurer of last resort voted unanimously to postpone final action on …
Florida Insurance Commissioner David Altmaier has issued a final order approving the National Council on Compensation Insurance (NCCI)’s filing for a statewide overall decrease of 6.6% for Florida workers’ compensation insurance rates. This applies to both new and renewal workers’ …
Florida’s insurance regulator has called for a further decrease to proposed workers’ compensation insurance rates in response to a filing by the National Council on Compensation Insurance (NCCI). In an order issued Oct. 30, Florida Insurance Commissioner David Altmaier said …
