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Governor Ron DeSantis ended weeks of speculation, persuasion and publicity campaigns when he vetoed SB 54, which would have repealed Florida’s Personal Injury Protection (PIP) law. SB would have replaced the no-fault PIP system with certain mandatory bodily injury (BI) coverage. The potential repeal of PIP has been an annual topic in the legislature for […]
Insurance Regulation News, legislature, COVID-19, business interruption coverage, business immunity
It’s hard to believe September is here. It seems like the 2019 legislative session just concluded. In reality, though, the 2020 session is just around the corner. The 2020 session will have an early start date—it runs from January 14 through March 13 (assuming it ends on time). The early start date means committee meetings will […]
Many proposals that passed in the 2019 legislative session take effect July 1. This includes most portions of the Assignment of Benefits (AOB) reform bill passed by the legislature this year. Although the legislature passed other legislature accelerating the effective date of a new method for dealing with attorneys’ fees, the core portions of the […]
The 2017 legislative session might be best remembered for key initiatives that did not pass– the legislature did not address the “assignment of benefits” issue and the increases to workers’ compensation insurance rates following recent Florida Supreme Court opinions. The legislature also did not act with respect to Florida’s premium tax credit for salaries paid to […]
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, […]
As the Florida legislature enters the final few weeks of the 2017 regular session, several important insurance issues remain unresolved. One of the most prominent insurance issues in need of a legislative solution is the “assignment of benefits” issue. Insurance Commissioner David Altmaier, Citizens Property Insurance Corporation chief executive officer Barry Gilway, and a number […]
The Florida Office of Insurance Regulation (OIR) recently issued an order granting contingent approval to a statewide average rate increase of 14.5% for workers’ compensation insurance. The approval is conditioned upon the National Council on Compensation Insurance’s making certain revisions to its initial filing, which proposed a 19.6% increase. As ordered by the OIR, the rate […]
The legislature’s 2015 regular session has reached its final week. However, due to continuing negotiations over the budget, the legislature is heading toward either an extension of the session or a separate special session. Either way, the legislature will spend additional time in Tallahassee. However, the decision whether to extend the session or convene in […]
The Florida Hurricane Catastrophe Fund (FHCF) recently announced that it anticipates being able to fully fund its $17 billion in initial season obligations and being able to support a large portion of a subsequent season’s obligations. Under its most recent projections, the FHCF would fall about $5 billion short of providing another $17 billion in […]
