Florida Office of Insurance Regulation News

Florida Governor Signs AOB Reform Bill; Law to Take Effect July 1

Long-awaited reforms for Florida’s assignment of benefits (AOB) crisis that the insurance industry and consumer advocates say has led to less coverage and higher rates for Florida property owners will officially become law July 1. Florida Governor Ron DeSantis signed …

Florida Governor to Sign AOB Reform Bill; Citizens Plans Rate Review

Florida Governor Ron DeSantis has signaled his support of a property insurance reform bill passed by the Florida Senate Wednesday, saying in a statement Wednesday he will sign the legislation that the insurance industry and consumer advocates say will stem …

Update: Florida Legislature Passes Industry-Backed AOB Reform Bill

After seven years of failed attempts, Florida legislators have passed property insurance reform to address the abuse of a policyholder benefit known as assignment of benefits (AOB). The insurance industry and consumers advocates say the abuse has caused higher insurance …

Florida AOB Reform Bill Passes Final Committee, Heads to Full Senate

A bill the Florida insurance industry says will help reign in assignment of benefits abuse that is plaguing the state and raising insurance costs has passed its final committee in the Florida Senate and is now headed to the full …

Assignment of Benefits Reform Moves Forward as Florida House Passes Measure

Assignment of benefits reform legislation progressed in the Florida legislature yesterday. Lawmakers passed House Bill 7065, one of two key pieces of insurance industry-supported legislation – the other being its companion Senate Bill 122 – that Florida’s insurance regulator and …

Florida Deputy Insurance Commissioner Murphy Receives Dineen Award from NAIC

Florida Deputy Insurance Commissioner Susanne Murphy has been awarded the Robert Dineen Award for Outstanding Service and Contribution to the State Regulation of Insurance from the National Association of Insurance Commissioners (NAIC). Murphy was presented the award at the Opening …

Florida Insurance Regulator Issues Irma-Related Emergency Order

The Florida Office of Insurance Regulation has suspended and activated certain insurance rules and statutes for the health, safety, and welfare of Florida’s policyholders in the aftermath of Hurricane Irma, according to an emergency order from Insurance Commissioner David Altmaier …

Florida Regulators Approve 50K Citizens Policies for October Takeouts

The Florida Office of Insurance Regulation has approved the following companies to participate in the October Citizens Property Insurance Corporation take-out period. For the Oct. 17, 2017 Personal Residential Take-Out Period: Safepoint Insurance Company – approved to remove up to …

Nearly 20K Citizens Policies Approved for August Takeouts by Florida Regulators

The Florida Office of Insurance Regulation has approved the following companies to participate in the August Citizens Property Insurance Corporation take-out period. For the Aug. 22, 2017 Personal Residential Take-Out Period: National Specialty Insurance Company – approved to remove up …

Florida Approves Nearly 1,500 Citizens Commercial Policies for July Takeouts

The Florida Office of Insurance Regulation (OIR) has approved the following company to participate in the July Citizens Property Insurance Corporation (Citizens) take-out period. For the June 20, 2017 Commercial Residential Take-Out period: Weston Insurance Company – approved to remove …