Declarations

Credit memo
“The order confirms the Florida Insurance Council’s position that the memorandum is itself a rule as defined in the Administrative Law Code of Florida, and as such, must be promulgated as a rule in order to be enforceable. Since it has not been so promulgated, the order directs that Office of Insurance Regulation shall immediately discontinue reliance on the memorandum.”

Guy Marvin, president, Florida Insurance Council, cheering on behalf of insurers over an administrative judge’s ruling that the OIR does not have the authority to begin enforcing a rule governing insurers’ use of credit information when that rule is still under administrative challenge. The judge’s order blocked OIR from enforcing the rule on Sept.1. Insurers have questioned the substance of the credit rule and said they will press ahead with that challenge.

Another world
“That’s by far the most common distraction I see now. You see a little bit of everything. Reading, I’ve seen some. Eating, you see that every day. People sometimes just get in another world when they’re driving and are not aware of what’s going on around them.”

Sheffield, Alabama Police Capt. Anthony Pace, noting that cell phone use has become the biggest distraction for drivers today.

Boost for economy
“This is great news for Florida businesses and a boost for our economy. Our workers are seeing benefits delivered more fairly and efficiently, and our employers are paying lower rates that reflect a reduction of fraud and abuse in the system.”

Florida Insurance Commission Kevin McCarty upon receiving a filing from workers’ compensation insurers for a 13.3 percent rate reduction for 2007.

Improved experience
“These loss costs, particularly for industrial classes, show drastically improved experience in the Kentucky market with dropping frequency of claims and increased premium volume.”

Julie Mix McPeak, executive director of the Kentucky Office of Insurance, on announcing a 9.3 percent drop in the state’s workers’ compensation loss costs, upon which insurers base their rates.

Topics Florida