FHCF May 2018 Bonding Capacity
FHCF May 2018 Bonding Capacity.pdf
FIC: Florida Cat Fund Remains Strong
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…
FIC & GT: Retroactive Application of 2016 Florida Unclaimed Property Law Prohibited By Court
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…
FIC’s Letter on OIR Draft 2018 Claims Reporting Form
4-24-18 FIC’s OIR Draft 2018 Claims Reporting Form Comments.pdf
FIC: Property Insurance Bills Signed by Governor
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…
FIC: Citizens Clearinghouse Public Records Bill Passes Legislature
By: Katrina Callaway, FIC General Counsel The public records exemption in current law for proprietary business information provided by insurers in the private market to Citizens Property Insurance Corporation (Citizens) for use in the Citizens Clearinghouse will continue to apply after the passage of HB 7097 during the 2018 legislative session. The bill passed…
FIC: Citizens Clearinghouse Public Records Bill One Vote From Final Passage
By: Katrina Callaway, FIC General Counsel The public records exemption in current law for proprietary business information provided by insurers in the private market to Citizens Property Insurance Corporation (Citizens) for use in the Citizens Clearinghouse will be reenacted and saved from repeal under HB 7097 that passed the House on March 5, 2019 with…
FIC: Citizens Clearinghouse Public Records Bill Passes House – Goes To Senate
By: Katrina Callaway, FIC General Counsel The public records exemption in current law for proprietary business information provided by insurers in the private market to Citizens Property Insurance Corporation (Citizens) for use in the Citizens Clearinghouse will be reenacted and saved from repeal under HB 7097 that passed the House on March 5, 2019 with…
FIC: Flood Insurance Disclosure Bill Goes to Governor
By: Katrina Callaway, FIC General Counsel Starting January 1, 2019, insurers must include a specific disclosure with property insurance policy documents stating that the policy does not cover flood damage under a bill (HB 1011) approved by the House and Senate during the 2018 Session. The bill now goes to Governor Rick Scott for signature…