Florida Office of Insurance Regulation News

Florida Approves Removal of Up to 280,857 Policies From Citizens

The Florida Office of Insurance Regulation announced today that it has approved the removal of up to 279,357 personal residential policies and 1,500 commercial residential polices from Citizens Property Insurance Corporation by the following seven companies: Anchor Property & Casualty …

The Doctors Co. Challenging Florida’s Order to Decrease Med Mal Rates

An order by the Florida Office of Insurance Regulation for medical malpractice insurer The Doctors Co. (TDC) to decrease its rates by 15 percent is being contested by the California-based company. A hearing has been set for Oct. 7, 2015, …

Florida Bans Price Optimization; Insurers Question Definition

A memorandum released last week by Florida Insurance Commissioner Kevin McCarty warning insurers in the state not to use price optimization in rating has gotten cheers from a consumer advocate group and jeers from an insurance industry trade association that …

Florida Approves Removal of 30,000 Policies from Citizens

The Florida Office of Insurance Regulation (Office) has approved the removal of up to 30,000 personal residential policies and 50 commercial residential polices from Citizens Property Insurance Corporation (Citizens) by the following two companies: Heritage Property & Casualty Insurance Co. …

Florida Office of Insurance Approves Removal of 45,500 Policies from Citizens

The Florida Office of Insurance Regulation has approved the removal of up to 45,000 personal residential policies and 500 commercial residential polices from Citizens Property Insurance Corp. by the following two companies: Heritage Property & Casualty Insurance Co. – approved …

Florida Approves Removal of Nearly 80,000 Policies from Citizens

The Florida Office of Insurance Regulation has approved the removal of up to 78,897 personal residential policies and 500 commercial residential polices from Citizens Property Insurance Corp. by the following four companies: First Community Insurance Co. ‒ approved to remove …

Florida Approves Removal of 93,500 Policies from Citizens

The Florida Office of Insurance Regulation has approved the removal of up to 93,000 personal residential policies and 500 commercial residential polices from Citizens Property Insurance Corp. as part of the state’s ongoing effort to reduce the number of policies …

Florida Touts Workers’ Comp Market Competition But Warns on Court Rulings

Florida’s workers’ compensation market remains competitive and well-capitalized, with loss ratios that are among the lowest among larger states, according to the latest report from the state’s insurance regulator. At the same time, the report warns that several court cases …

Florida OIR Approves Removal of Up to 427,584 Policies From Citizens

The Florida Office of Insurance Regulation (OIR) announced that it has approved the removal of up to 425,357 personal residential policies and 2,227 commercial residential policies from Citizens Property Insurance Corp. by 14 companies. The OIR said Thursday this is …

Florida’s Citizens Votes to Lower Rates Next Year

The Board of Governors for Florida’s Citizens Property Insurance Corp. approved on Wednesday a 2015 rate package that reflects an overall average 2.9 percent statewide decrease for personal residential policyholders across the state. Citizens said single family homeowners will see …