News & Updates

Florida Office of Insurance Regulation

Lack of AOB Reform Likely to Put Pressure on Rates and Availability

Lack of AOB Reform Likely to Put Pressure on Rates and Availability

After only limited committee discussions during the 2017 session, the Florida legislature failed to adopt reforms to this state’s “assignment of benefits” problem.  The Florida Office of Insurance Regulation and Citizens Property Insurance Corporation offered substantial testimony before the legislature regarding the nature of the problem, steps the legislature could take to fix the problem, […]

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Insurance Premium Taxes Under Discussion in Florida and Connecticut

Insurance Premium Taxes Under Discussion in Florida and Connecticut

Policymakers in Florida and Connecticut appear to be moving in different directions as they evaluate the impact of insurance premium taxes in their respective states. Florida law currently provides for a salary credit against the insurance premium tax, which serves to partially offset insurers’ premium tax obligations based upon the salaries they pay to Florida […]

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New Year Brings Lower Coverage Limits in Citizens

New Year Brings Lower Coverage Limits in Citizens

The maximum personal residential coverage limits available from Citizens Property Insurance Corporation decreased as of January 1, 2017, in accordance with a law passed in 2013 providing for a gradual step-down in the limits.  Effective January 1, the following risks are no longer eligible as new business or renewals: A structure that has a dwelling replacement […]

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