It’s no surprise that Florida carriers are raising homeowners’ insurance rates given several years of catastrophes and losses from litigation related to assignment of benefits and water damage claims. What may be surprising for insureds, however, is how substantial the …
The Florida Office of Insurance Regulation has approved a plan for Homeowners Choice Property and Casualty Insurance Company, a subsidiary of HCI Group, to provide replacement policies for Anchor Property and Casualty Insurance Co. policyholders. The approved plan provides policyholders …
The rating agency responsible for assigning financial stability ratings (FSR) to more than 40 Florida domestic insurers has warned that several carriers will receive downgrades due to deteriorating conditions in the state’s property insurance market, and more than a dozen …
Florida Insurance Commissioner David Altmaier has appointed Allison Hess Sitte as Government Affairs director for the Office of Insurance Regulation (OIR), effective Monday, Dec. 2, 2019. Sitte most recently served as the director of Legislative and Cabinet Affairs at the …
Florida’s new Insurance Consumer Advocate Tasha Carter has been busy since taking office August 1. With more than 12,000 Hurricane Michael claims still open, according to the Florida Office of Insurance Regulation, one of Carter’s top priorities has been to …
Florida businesses can expect an even greater decrease in workers’ compensation insurance next year, thanks to an order by the state regulator for a further decrease to the recent rate filing proposed by the National Council on Compensation Insurance (NCCI). …
The head of recently shuttered Florida Specialty Insurance Co. says that claims by Florida’s insurance regulator that the company is insolvent are untrue. The company’s CEO, Susan Patschak, argues Florida’s Office of Insurance Regulation liquidation and receivership order should be …
It’s been just over a year since Hurricane Michael made landfall in the Florida Panhandle, devastating the region as a Category 5 storm with 161-mph winds and causing more than $7.2 billion in estimated insured losses, according to the Florida …
Florida personal lines insurer Florida Specialty Insurance Co. (FSIC) has been ordered into receivership and will be liquidated after state regulators determined the company is insolvent and unable to establish a viable business plan moving forward. The Florida Department of …
Florida businesses will see another workers’ comp rate decrease next year if the latest filing by the National Council on Compensation Insurance (NCCI) is approved by Florida regulators. Carrier results continue to be favorable in the segment thanks to many …
