Texas Insurer Alleges Vendetta by Florida Regulator McCarty
A Texas insurance company and its owner are suing Florida Insurance Commissioner Kevin McCarty, accusing him of being vindictive and defamatory in his efforts to ban the company from writing workers’...
View ArticleCourt Upholds Florida Regulator in Denial of Texas Insurer
A Texas-based workers’ compensation insurer has lost its appeal of rulings by the Florida insurance commissioner that have blocked it from doing business in the state. On Jan 20, without explanation, a...
View ArticleFlorida Regulator Wants Dallas National Vendetta Lawsuit Dismissed
Florida Insurance Commissioner Kevin McCarty is back in federal court looking to end a legal battle with the Texas-based Dallas National Insurance Co. and its owner Charles David Wood, who claims the...
View ArticleFlorida Insurance Office Announces Staff Changes
Florida Insurance Commissioner Kevin McCarty announced several staff changes at the Office of Insurance Regulation (OIR). Al Willis has been appointed acting deputy commissioner for Property &...
View ArticleFlorida Considers Phasing-In Big Sinkhole Insurance Rate Hikes
Florida Chief Financial Officer Jeff Atwater has urged state insurance regulators to consider an affordable “glide path” for homeowners seeking to buy sinkhole insurance from Citizens Property...
View ArticleFlorida Regulator Taking Citizens Sinkhole Rate Bid on the Road
South Florida residents will have their say over the state-backed insurer’s proposed triple-digit increase in sinkhole rates as regulators announced they will hold a public hearing on the issue in...
View ArticleFlorida Regulator Slashes Sinkhole Rate Hike, Lowers Others
Florida residents who have sinkhole insurance through the state-backed property insurer will not have to pay a proposed statewide average 447 percent increase. Citizens Property Insurance Corp....
View ArticleFlorida Weighs Workers’ Comp Hike, Cost of Doctor-Dispensed Drugs
Florida employers could have to pay more in workers’ compensation premiums if regulators go along with a proposed statewide average 8.9 percent rate hike. The rate change may also trigger legislative...
View ArticleFlorida Insurance Commissioner: ‘This Is Year for PIP Reform’
Roughly half way through Florida’s legislative session, state Insurance Commissioner Kevin McCarty expressed optimism that state lawmakers would find a way to substantial reform the state’s no-fault...
View ArticleFlorida Approves 10.8% Rate Hike for Citizens; Also 21.4% for Sinkholes
Florida regulators have approved a 10.8 percent statewide average homeowners insurance rate increase and a 21.4 percent increase in sinkhole rates for the state-backed property insurer. Insurance...
View ArticleFlorida OKs 6.1% Workers’ Compensation Rate Hike
Florida Insurance Commissioner Kevin McCarty said he will approve a 6.1 percent rate increase to become effective January 1, 2013 for workers’ compensation insurance rates in Florida. The decision was...
View ArticleNAIC Sets Up Consumer Call Center in Aftermath of Superstorm Sandy
State insurance regulators, working cooperatively through the National Association of Insurance Commissioners (NAIC), are coordinating efforts to assist New Jersey and other Eastern Seaboard residents...
View ArticleU.S. Regulators Urge Flexibility in Basel III Rules for Banks, Insurers
U.S. lawmakers and state financial regulators on Thursday called on federal officials to revamp proposed rules that would force financial firms to hold much more capital, asking them to consider the...
View ArticleFlorida Extends ‘Fast Track’ Policy Form Approval
Florida insurance regulators are extending a process that fast tracks approval of insurance company forms. The Office of Insurance Regulation (OIR) says the extension until June 2013 is necessary due...
View ArticleFlorida Regulator Conducting Review of Citizens Insurance
Florida regulators are working on a report that is expected to layout the financial status, claims handling and other administrative workings of the state’s 1.4 million policyholder-backed property...
View ArticleFlorida Cabinet Approves PIP Benefit Rule Sought by Insurers
Florida officials have approved an emergency rule that will allow auto insurers providing no-fault coverage to use a form informing accident victims of their benefits under the state’s revised personal...
View ArticlePraetorian Offers to Lower Florida Forced-Placement Rates by 18.8%
A forced placement mortgage property insurer providing coverage in Florida has offered to lower its rates by an average of 18.8 percent, despite the fact that state regulators said the rate decrease...
View ArticleFlorida Regulator McCarty Offers Reform Map to Smaller Citizens Property...
Florida’s insurance commissioner has proposed a set of reforms designed to return the state-back property insurer to being a residual market, while at the same time offering the private insurance...
View ArticleHurricane Season and Florida’s Insurance System: Living on Borrowed Time?
Mother Nature has been kind to Florida’s coastline lately with a record run of seven years without a hurricane making landfall, allowing property insurers time to re-stock their depleted coffers. As a...
View ArticleFlorida Governor Eyes Louisiana Official to Replace Insurance Chief McCarty
Florida Governor Rick Scott is looking for a replacement for the state’s top insurance regulator and has already contacted a potential candidate from Louisiana. Scott’s office has confirmed that the...
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