The Florida Insurance Guaranty Association now has an auto insurance representative on its board. Florida Chief Financial Officer Jimmy Patronis announced last week that he has appointed D. Ryan West, the senior director of physical damage claims at GEICO, to …
Florida regulators’ effort to enforce a 2002 state law and keep insolvent insurers’ officers out of carrier leadership roles appears to be a reason behind a significant shakeup at St. Petersburg-based American Coastal Insurance Corp. An official with Florida’s Office …
In May, Florida’s chief financial officer sent out a notice that he had appointed new members to the Florida Insurance Guaranty Association’s board of directors. Just a week later, though, one of those appointees, a State Farm employee, was replaced. …
Current and former leaders with Florida property insurers have had some strong reactions to state regulators’ recent efforts to oust company executives who previously helmed now-insolvent carriers. Some have called the unprecedented regulatory action unfair, misguided and impossible to substantiate, …
Insurance department omnibus bills in state legislatures are often seen as housekeeping or budget items that may revise regulatory language, fund insurance department positions or clean up the wording of previous laws. But in North Carolina this year, supporters of …
Despite years of complaints from Florida property insurers and some lawmakers that out-of-control claims litigation was destroying the industry, recent regulators’ reports about the reasons for insolvencies make little mention of the “L-word.” The omission has prompted some head scratching …
Weston Property & Casualty Insurance Co. is insolvent and should be placed into receivership, making it the fifth Florida property insurer this year to be dissolved, according to state regulators. The Florida Office of Insurance Regulation on Tuesday filed notice …
