Florida Insurance Council - Covering Florida Since 1962
By: Katrina Callaway, FIC General Counsel The Advisory Council (Council) for the Florida Hurricane Catastrophe Fund (FHCF or Fund) met on October 17, 2019 and learned the FHCF is still strong financially despite losses to the Fund in 2017 from Hurricanes Irma and in 2018 from Hurricane Michael. However, the Fund’s liquidity is a little…
By: Katrina Callaway, FIC General Counsel The Florida Hurricane Catastrophe Fund (FHCF) Advisory Council received an update on FHCF losses from Hurricanes Irma and Michael during its meeting on October 17, 2019. The FHCF losses from Hurricane Irma continue to grow. FHCF has paid $2.95 billion to 85 insurers for Hurricane Irma losses and estimates…
By: Katrina Callaway, FIC General Counsel During its meeting on October 16, 2019, the House Insurance & Banking Subcommittee received presentations on property insurance, hurricane claims, and the insolvency and liquidation of Florida Specialty Insurance Company. The committee heard from: Insurance Commissioner David Altmaier Greg Thomas, DFS Director of Consumer Services and Insurance Agency &…
By: Greenberg Traurig, FIC lobbyist The Senate Health Police Committee met on October 15, 2019 to hear a presentation by the Office of Program Policy Analysis and Government Accountability (OPPAGA) on Florida’s Participation in the Interstate Medical Licensure Compact. The meeting packet can be found here. Summary Tina Young, OPPAGA Senior Legislative Analyst, presented research…
By: Katrina Callaway, FIC General Counsel The Senate Banking and Insurance held a panel discussion on property insurance and the state of claims from Hurricane Michael during its committee meeting on October 15, 2019. The panelists included: Insurance Commissioner David Altmaier Locke Burt, Security First Insurance Melissa DeVriese, Security First Insurance Chip Merlin, trial attorney…
By: Katrina Callaway, FIC General Counsel On October 14, 2019, Thomas Campbell, Executive Director of the Florida Building Commission (Commission), gave the Senate Committee on Community Affairs an update on changes to the Florida Building Code (Code) and the performance of Florida’s housing stock during Hurricane Michael. His presentation can be viewed here. Regarding the…
By: Katrina Callaway, FIC General Counsel On October 10, 2019, the OIR held a rule hearing on the proposed repeal of the administrative rule requiring commercial general liability contracts to provide defense costs outside of the limit of liability. The OIR is proposing to repeal the rule as it is unnecessary or obsolete. FIC lobbyist,…