Florida Insurance Council - Covering Florida Since 1962
By: Katrina Callaway, FIC General Counsel Last week, the FHCF held a rule workshop on its rule related to insurer reporting requirements for the 2019-2020 contract year. There are few substantive changes to the rule this year. Most of the changes conform the rule and its associated Data Call form to the changes made in…
From Greenberg Traurig Citizens Board Discusses AOB, Property Litigation and Policy Changes Today, the Citizens Board held a meeting which included reports on growth in the Personal Lines Account (PLA), Assignment of Benefit (AOB), property litigation challenges and proposed policy change. Board members present included: Gary Aubuchon – Interim Chairman, Bette Brown, Blake Capps, Marc…
By: Katrina Callaway, FIC General Counsel The 4th District Court of Appeal ruled for the insurer, Ark Royal Insurance Company, in an AOB case on September 5, 2018. The opinion can be found here. The District Court of Appeal is the second level in the Florida court system. The Supreme Court is the highest…
By: Katrina Callaway, FIC General Counsel On August 20, 2018, the Florida Hurricane Catastrophe Fund (FHCF) held a rule workshop on proposed changes to their reimbursement contract rule and the actual reimbursement contract with its addendums. The FHCF will accept written comments on the proposed changes until August 24, 2018. They plan to submit the…
FHCF May 2018 Bonding Capacity.pdf
By: Katrina Callaway, FIC General Counsel The Advisory Council (Council) for the Florida Hurricane Catastrophe Fund (FHCF or Fund) met on May 17, 2018 and learned the FHCF is still financially strong despite losses to the Fund in 2017 from Hurricane Irma. During the meeting, the Council received and approved the May Claims Paying…
By: FIC and Greenberg Traurig The life insurance industry received a big win in court last Friday when a Tallahassee judge ruled the 2016 changes to the unclaimed property statute violated life insurers’ due process rights and enjoined retroactive application of the new law. A copy of the Judge’s Order is attached here. The…
4-24-18 FIC’s OIR Draft 2018 Claims Reporting Form Comments.pdf
By: Katrina Callaway, FIC General Counsel Last week, Governor Rick Scott signed two property insurance bills following the 2018 legislative session. On March 21, 2018, he signed HB 1011 requiring a new flood insurance disclosure on all property insurance new and renewal policies. The Citizens Insurance Clearinghouse public records exemption bill (HB 7097) was…