All Press Releases

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.

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.

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.

Today, Insurance Commissioner Michael Yaworsky issued the following statement in support of Governor Ron DeSantis' 2024-2025 Focus on Florida's Future budget.

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.

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.

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.

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.

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.

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.

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.

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.

Recently, the Florida Office of Insurance Regulation (OIR) approved the acquisition of Florida domestic property and casualty reciprocal insurer, Trusted Resource Underwriters Exchange, to allow the existing company to grow its footprint in the state and expand its underwriting capacity. As a result of OIR’s approval of the acquisition, more than $1.25 billion of capital is being invested into Florida’s property and casualty insurance market.

Today, Florida Office of Insurance Regulation (OIR) Commissioner Michael Yaworsky highlighted accomplishments made in 2023 to promote a stable and competitive insurance market for Florida’s policyholders.

Insurance Commissioner Michael Yaworsky released the following statement in support of Governor Ron DeSantis’ 2024-2025 budget recommendations

The Florida Office of Insurance Regulation (OIR) approved Condo Owners Reciprocal Exchange to form as a property and casualty reciprocal insurer in Florida. Today’s announcement marks the newest property and casualty insurer approved to operate in Florida following extensive legislative reforms implemented to promote continued market stabilization. As a result of these reforms, Florida is seeing additional opportunities in the market for insurers to sell insurance.

Florida Insurance Commissioner Michael 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 15.1 percent.

Governor Ron DeSantis and members of the Florida Cabinet approved rules to implement several provisions of the Prescription Drug Reform Act (SB 1550).

Governor Ron DeSantis provided updates for Florida policyholders following Hurricane Idalia, including the issuance of an emergency order by the Office of Insurance Regulation (OIR) to protect policyholders impacted by the storm.

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.