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 …
The downward trend for Florida workers’ compensation rates is set to continue next year thanks to favorable loss experiences from policy years 2017 and 2018. The latest filing from the National Council on Compensation Insurance (NCCI) proposes an average statewide …
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, …
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 …
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 …
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 …
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 …
