Lawmakers in the Florida Senate have taken steps to return the state-backed insurer Citizens Property Insurance Corp. to its original purpose of being a market of last resort by requiring it to charge actuarially sound rates and restrict the number …
Florida lawmakers are weighing a bill that would alter the funding mechanism for the state fund that pays the claims of insolvent property insurers, a change that does not have the uniform support of the insurance industry. The Florida Insurance …
A Florida district court judge’s ruling that declared unconstitutional a 104-week limitation on injured workers’ temporary benefits has left insurers and employers scrambling to come up with a legislative solution as the state’s 60-day legislative session began this week. The …
Florida lawmakers have kept alive a bill that would alter the method of funding the state fund that pays the claims of insolvent property insurers even though the change could increase costs and does not have the uniform support of …
Florida’s state-backed property insurer has approved a plan to shift 31,000 commercial wind-only policies to a new private insurer. The board of Citizens Property Insurance Corp. approved the plan earlier this week. Newly-licensed Weston Insurance Co. will be permitted to …
Florida lawmakers’ first draft of a property reform emphasizes depopulating and diverting policies from Citizens Property Insurance Corp., the state-backed property insurer that has 1.3 million policyholders. The proposal also seeks to reduce the financial responsibility of the state’s catastrophe …
Florida physician groups are claiming that the cost of physician-dispensed prescription drugs in workers’ compensation claims is far less than has been reported and that physicians are being unfairly singled out while regulators ignore other medical costs. The Florida Medical …
The outlook for Florida’s workers’ compensation market continues to be strong as a competitive market offers affordable rates, although costs could be reduced further if the state addressed prescription drug costs and hospital expenses, according to a recent report issued …
Florida regulators have released a report into Citizens Property Insurance Corp. that says the state-backed company failed to sufficiently negotiate outside vendor contracts and review travel and other expenses. At the same time, the report gives the insurer high marks …
Lawmakers Have Insurance Concerns But Will They Act in 2013? When you ask experts in Florida to describe the mood of state lawmakers about insurance reforms in 2013 they use words like “disinterested” and “fatigued.” This despite the fact that …
