Outgoing Insurance Commissioner Looks Back

By Jim Turner The News Service of Florida Published: Sunday, June 12, 2016 at 10:49 p.m. TALLAHASSEE — Kevin McCarty, Florida’s longtime insurance commissioner, is leaving the Office of Insurance Regulation during the first week of July. McCarty oversaw the insurance industry through the unprecedented 2004 and 2005 hurricane seasons and a global recession. But…

Shady Lawyers are Exploiting Loopholes in Property Insurance Policies

JAX Times Union Opinion Lead Letter: Shady lawyers are exploiting loopholes in property insurance policies By Michael Carlson, president, Personal Insurance Federation of Florida Fri, Jun 10, 2016 @ 3:31 pm Last year, Florida broke a record by going 10 straight years without a major hurricane. But not everything is calm as we enter this…

More Private Insurance Available For High-Risk Coastal Properties In The U.S., According To Latest I.I.I. Residual Markets White Paper

Florida’s State-Backed Residual Policy Count Drop Drives 14 Percent Decrease Nationally June 6, 2016 NEW YORK, June 7, 2016 — High-risk coastal property owners in the United States are increasingly able to buy coverage from private-sector insurers, thereby reducing the exposure of state-run residual property insurers, according to the Insurance Information Institute (I.I.I.) The I.I.I.’s…

Report: Florida Insurers’ Ability to Respond to Next Catastrophe ‘Uncertain’

Ron Hurtibise  Sun Sentinel The ability of Florida’s young homeowner insurance companies to manage a large catastrophic hurricane is “uncertain” despite recent strong financial performance, a new Fitch Ratings analysis asserts. The report released last week, “Florida Homeowners Insurance Market Update: No Time for Complacency Following Hurricane-Free Decade,” says the short history and lack of…

How Rick Scott’s Regulations Rollback Led to Today’s Building Boom

By John Kennedy – Palm Beach Post Capital Bureau TALLAHASSEE — Five years after Gov. Rick Scott scaled back Florida’s growth laws, massive development projects are underway across the state, boosting employment and tax collections but also sparking fears of traffic-choked roads and environmental calamities. Palm Beach County’s unincorporated western area is the site of…

Florida Hurricane Catastrophe Fund May 2016 Estimated Claims-Paying Capacity

Florida Hurricane Catastrophe Fund May 2016 Estimated Claims-Paying Capacity STATE BOARD OF ADMINISTRATION Estimated Capacity NOTICE IS HEREBY GIVEN by the State Board of Administration of Florida (the “Board”) of the estimated borrowing capacity, estimated claims-paying capacity, and projected balance of the Florida Hurricane Catastrophe Fund (the “Fund”) as of December 31, 2016, in compliance with…

State Files Appeal Over State Farm Data

Orlando Sentinel May 22, 2016  TALLAHASSEE — Insurance regulators are preparing for an appeals-court battle with State Farm Florida after a circuit judge blocked the release of information about the company’s property-insurance policies. The Florida Office of Insurance Regulation filed a notice of appeal last week after Leon Circuit Judge James Hankinson prevented the release…