“The Florida Legislature’s action today in passing SB 542 promoting choice in the flood insurance market will be good for Florida consumers. We thank the Legislature and Senator Brandes and Representative Hooper for sponsoring this measure. The Office of Insurance Regulation looks forward to the opportunity to work collaboratively with
Insurers in Florida could not use credit information to deny a claim or cancel a policy under a bill now headed to the desk of Florida Gov. Rick Scott. The Florida House voted unanimously for a bill that would also create a “homeowner claims bill of rights” that requires insurers
TALLAHASSEE, Fla. (AP) — The Florida House has rejected a proposal that could shift homeowners away from Citizens Property Insurance and into unregulated out-of-state insurers. The Florida Senate last week narrowly voted for a property insurance bill that would allow homeowners seeking coverage from Citizens to be shifted to a
Tallahassee – New legislation passed today and sponsored by Senator David Simmons and Representative Clay Ingram will modernize insurer solvency regulation in Florida to the benefit of Florida policyholders. The bill, SB 1308, makes fundamental changes in the way insurance companies and their affiliates are supervised by state regulators. The
TALLAHASSEE, Fla. – The Florida Office of Insurance Regulation (Office) today approved the removal of up to 10,000 multi-peril personal residential policies from Citizens Property Insurance Corporation to Southern Oak Insurance Company. This is part of the state’s ongoing effort to reduce the number of policies in state-backed Citizens and
Yield-starved investors are gambling that mother nature will be kind this year as they flock to a risky type of insurance-linked debt known as catastrophe bonds. Sales of “cat bonds” have hit a record level in the first four months of 2014 as insurance companies take advantage of investor appetite
Yield-starved investors are gambling that mother nature will be kind this year as they flock to a risky type of insurance-linked debt known as catastrophe bonds. Sales of “cat bonds” have hit a record level in the first four months of 2014 as insurance companies take advantage of investor appetite for
TALLAHASSEE, Fla. – The Florida Office of Insurance Regulation (Office) today unveiled an expanded CHOICES system to give consumers one centralized location to search all four of the Office’s insurance rate comparison systems. This includes rates for Homeowners, Automotive, Medicare Supplement and Small Group health insurance. The CHOICES system gives Floridians
Car insurers are hailing a Florida Supreme Court decision not to review a case that aimed to stop a state law reducing Personal Injury Protection benefits, but opposing lawyers said renewed challenges are likely. The state high court’s decision ends one phase of a fight that saw a Tallahassee judge slap a temporary
Former Gov. Charlie Crist doubled down on his support of President Obama and national health care today and said Gov. Rick Scott is just plain “bad.” Crist also told the Capital Tiger Bay Club he didn’t vote for Scott, who was elected to succeed him in the Governor’s Mansion in 2010. Crist