The chief risk officer for Citizens Property Insurance has sent a letter to the state insurance consumer advocate defending a proposed rate hike under review by the Office of Insurance Regulation.
Florida’s new insurance consumer advocate wants Insurance Commissioner Kevin McCarty to “strongly consider” the large amount of reinsurance purchased by the state-backed Citizens Property Insurance before making any decision on the company’s requested 3.2 percent rate hike.
A “disturbing” rise in water-damage claims in South Florida is driving Citizens Property Insurance Corp. to seek an average 3.2 percent increase in rates for many homeowners, the president of the state-backed insurer said Tuesday.
A trio of agency heads whose necks have been on the governor’s chopping block earned a couple of extra months stay on Tuesday.
The Florida Office of Insurance Regulation has formally approved an early end to a surcharge Citizens Property Insurance Corp. customers have been paying because of damages from the last of the 2005 hurricanes.
Governor Rick Scott is getting pressure from media organizations and open-government advocates who filed a lawsuit over the ouster of Florida’s top cop.
Gov. Rick Scott’s office continued pushing back Monday against claims his staff forced longtime Florida Department of Law Enforcement Commissioner Gerald Bailey to resign immediately in December.
Florida businesses will save some money next year. The state’s Office of Insurance Regulation has announced an overall 5.2 percent decrease in workers-compensation insurance rates.
Workers’ comp insurers are seeking a one percent increase, meaning employers across the state of Florida could have to pay more for their workers’ compensation insurance.
Florida hasn’t seen a hurricane since 2005, but that hasn’t stopped property insurance rates from going up. Hurricane Wilma was the last of eight hurricanes to hit the state from 2004 to 2005. It raked the southern end of Florida and caused billions in damages.