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Commissioner Mike Yaworsky Highlights Rating Upgrades for Several Tax Bonds — Underscoring the Market is Stable
Published: Nov 25, 2024
Florida Insurance Commissioner Mike Yaworsky is affirming that Florida’s property insurance market is stable, as demonstrated by the recent rating upgrades for three Florida special tax bonds. Moody’s Ratings recently upgraded ratings for several Florida assessment-backed special tax bonds, including Florida’s Hurricane Catastrophe Fund, Citizen’s Property Insurance Corporation and the Florida Insurance Guaranty Association.
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OIR Approves Further Reduction in Workers' Compensation Insurance Rates for Eighth Consecutive Year
Published: Nov 18, 2024
Florida Insurance Commissioner Mike Yaworsky issued a Final Order granting approval to the National Council on Compensation Insurance (NCCI) for a statewide overall workers’ compensation insurance rate decrease of 1.0 percent.
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Florida’s Insurance Commissioner Encourages Policyholders to Contact OIR if Policies are Cancelled or Nonrenewed
Published: Nov 13, 2024
Floridians seeking assistance regarding cancellation or nonrenewal of policies should email copies of pertinent documents to OIR at HU-PCMR@FLOIR.com.
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Amendment of Hurricane Helene Emergency Order & Hurricane Milton Emergency Order
Published: Oct 16, 2024
Extension of Grace Periods; Limitations on Cancellations and Nonrenewals
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Florida’s Insurance Commissioner Provides Update on Continued Property Insurance Market Stabilization
Published: Oct 10, 2024
Today, after Hurricanes Helene and Milton made landfall along Florida’s coast, Insurance Commissioner Michael Yaworsky announced additional encouraging developments related to the state’s strengthening property insurance market. The news follows announcements by Progressive, and State Farm and the approval of multiple new property insurers since the state’s 2023 landmark reforms.
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NOTICE TO INDUSTRY: Florida Law Reminder for Early Prescription Refills
Published: Oct 6, 2024
This notice is a reminder that all health insurers, managed care organizations, pharmacy benefit managers and other health entities must comply with provisions of section 252.358, Florida Statutes, which allows for early prescription refills in the event the Governor issues an Executive Order declaring a State of Emergency. This mandate remains in effect until the Governor’s Executive Order is rescinded or expires.
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Hurricane Helene OIR Emergency Order: Extension of Grace Periods; Limitations on Cancellations and Nonrenewals.
Published: Sep 30, 2024
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NOTICE TO INDUSTRY: Hurricane Preparedness and Claims Handling
Published: Sep 24, 2024
The Office of Insurance Regulation (OIR) reminds all Property & Casualty (P&C) insurers of the importance of preparedness and compliance with all provisions of the Florida Insurance Code. The following highlights important regulatory requirements and best practices to ensure efficient and proper claims handling pursuant to Florida law.
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NOTICE TO INDUSTRY: Florida Law Reminder for Early Prescription Refills for Tropical Cyclone Nine
Published: Sep 23, 2024
This notice is a reminder that all health insurers, managed care organizations, pharmacy benefit managers and other health entities must comply with provisions of section 252.358, Florida Statutes, which allows for early prescription refills in the event the Governor issues an Executive Order declaring a State of Emergency. This mandate remains in effect until the Governor’s Executive Order is rescinded or expires.
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Florida’s Insurance Commissioner Highlights Strengthening Property Insurance Market
Published: Aug 9, 2024
Today, just four days after Hurricane Debby made landfall along the Big Bend, Florida’s Insurance Commissioner Michael Yaworsky announced several positive developments related to the state’s strengthening property insurance market. The news follows announcements by State Farm and the most recent approval of the a ninth new property insurer, Trident Reciprocal Exchange, since the state’s 2023 landmark reforms.
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Citizens Property Insurance Corporation Public Rate Hearing
Published: Jul 31, 2024
The Florida Office of Insurance Regulation will conduct a rate hearing to hear testimony from the Citizens Property Insurance Corporation and receive public comment on their proposed rate filings.
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First Protective Insurance Company Public Rate Hearing
Published: Jun 26, 2024
The Florida Office of Insurance Regulation will conduct a virtual rate hearing to hear testimony from the First Protective Insurance Company and receive public comment on their proposed rate filings.
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Governor Ron DeSantis’ FY 2024 – 2025 Focus on Florida’s Future Budget Ensures Consumer Protection and Fosters a Competitive Insurance Market
Published: Jun 13, 2024
Today, Insurance Commissioner Michael Yaworsky issued the following statement in support of Governor Ron DeSantis' 2024-2025 Focus on Florida's Future budget.
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People's Trust Insurance Company Public Rate Hearing
Published: May 29, 2024
The Florida Office of Insurance Regulation will conduct a virtual rate hearing to hear testimony from the People's Trust Insurance Company and receive public comment on their proposed rate filings.
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OIR Provides Update on Florida’s Strengthening Property Insurance Market
Published: May 17, 2024
Today, the Florida Office of Insurance Regulation (OIR) issued an update on the continued strengthening of Florida’s property and casualty insurance market, including that property insurance rate filings for 2024 show a downward trend for the first time in years, indicating the continued stabilization of the property insurance market. This news is a result of the continued prioritization of meaningful reforms to Florida’s property insurance market by Governor DeSantis, members of the Financial Services Commission, and the Florida Legislature.
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OIR Issues Update on Florida's Property Insurance Market
Published: Apr 3, 2024
Today, the Florida Office of Insurance Regulation (OIR) issued an update on Florida’s property and casualty insurance market. Following historic legislative reforms designed to promote market stability, eight property and casualty insurers were approved to enter Florida’s insurance market.
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Cypress Property & Casualty Insurance Company Public Rate Hearing
Published: Apr 2, 2024
The Florida Office of Insurance Regulation will conduct a virtual rate hearing to hear testimony from the Cypress Property & Casualty Insurance Company and receive public comment on their proposed rate filings.
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American Traditions Insurance Company Public Rate Hearing
Published: Mar 6, 2024
The Florida Office of Insurance Regulation will conduct a virtual rate hearing to hear testimony from the American Traditions Insurance Company and receive public comment on their proposed rate filings.
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Castle Key Indemnity Company Public Rate Hearing
Published: Feb 20, 2024
The Florida Office of Insurance Regulation will conduct a virtual rate hearing to hear testimony from the Castle Key Indemnity Company and receive public comment on their proposed rate filings.
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Amica Mutual Insurance Company Public Rate Hearing
Published: Feb 19, 2024
The Florida Office of Insurance Regulation will conduct a virtual rate hearing to hear testimony from the Amica Mutual Insurance Company and receive public comment on their proposed rate filings.