ST. PETERSBURG — Flood insurance rates will return to more affordable levels for many people come May 1, as the federal government’s insurance program looks to quickly enact changes passed last month. The Federal Emergency Management Agency advised insurers this week that new and renewed policies issued May 1 and after will
TALLAHASSEE, Fla. – Florida is among seven states currently considering bills to approve use of principles-based reserving for use by life insurers. SB 1308 is sponsored by Sen. David Simmons along w ith the Banking and Insurance Committee he chairs and the Judiciary Committee. It contains a host of updates to insurance
TALLAHASSEE — Expanding Medicaid to cover thousands of uninsured Floridians has mostly been ignored by Republicans during this year’s legislative session, but U.S. Sen. Bill Nelson is making a last-ditch effort to get it done. Medicaid is a joint state-federal program, though most of the expansion called for under the Affordable Care Act would be funded by Washington.
TALLAHASSEE, Fla. – Florida Insurance Commissioner Kevin McCarty recommends Floridians begin preparing now for the 2014 hurricane season and also encourages the purchase of flood insurance for enhanced protection of homes and businesses. Generally, a standard homeowners or business insurance policy does not cover damage from a flood, requiring the additional
On April 20, 2010, approximately 250 miles southeast of Houston in the waters of the Gulf of Mexico, BP’s Deepwater Horizon oil drilling rig exploded, killing 11 crewmen and igniting a fireball seen 35 miles away. By the time the well was capped on July 15, between 4.9 million and
From the Florida Insurance Council: The Florida Legislature is in recess the week of April 13 in observation or religious holidays. When it returns to Tallahassee April 21, there will be two weeks remaining in the 2014 session and the 2014-2015 state budget will begin to take center stage. FIC has
TALLAHASSEE, Fla. (AP) — Following a Florida Supreme Court decision that struck down caps on certain awards in medical malpractice lawsuits, the members of a 2002 task force that supported those caps are calling for a constitutional amendment that would place the caps on solid footing. The task force appointed by then-Gov. Jeb Bush recommended a cap for individuals on
After years of historic storms – and historic clean-up costs – flood insurance has become a part of the national conversation. Florida residents are no exception. Recent estimates indicate that Citizens Property Insurance Corporation – Florida’s state-run property insurance company, which offers subsidized rates to members – falls at least $1.5 billion short
The purpose of this memorandum is to remind insurers authorized to write property & casualty or health insurance in Florida of the requirements of Section 624.128, Florida Statutes (2013), the crime victims exemption, and the Florida Crimes Compensation Act. The Florida Office of Insurance Regulation is reminding insurers of the
Do extended service contracts warrant your attention and your dollars? It’s a question that comes up time and again. Seemingly whenever we buy anything of value, a salesperson suggests that we should buy an extended warranty, sometimes called a service contract. There are three common types: extended warranties for consumer