All the headlines from our Florida Topic Page, ordered by recency.
May 19 2015 // A memorandum released last week by Florida Insurance Commissioner Kevin McCarty warning insurers in the state not to use price optimization in rating has gotten cheers from a consumer advocate group and jeers from an...
May 19 2015 // Panama City Beach leaders have voted to ban beach drinking during the month of March as part of larger crackdown on spring break partying. The city council approved the ban on beach drinking May 12 during a special meeting...
May 18 2015 // The policy subsidies offered by Florida’s state-run Citizens Property Insurance Corp. flow disproportionately to the wealthy and, in concert with similarly regressive subsidies from the National Flood Insurance...
May 15 2015 // A.M. Best has revised the outlook to positive from stable for the issuer credit rating (ICR) of MGA Insurance Co. Inc. (MGA) in Dallas and affirmed its ICR of “bbb.”Concurrently, A.M. Best has affirmed the...
May 15 2015 // A judge has ordered a defunct Nebraska insurance firm to pay Florida regulators at least $2.2 million, but this week’s ruling isn’t likely to settle the case that began in 1998.The Nebraska Supreme Court has...
May 15 2015 // Florida’s nine-year streak of avoiding hurricanes is helping the state reach a historic milestone: for the first time ever, the state-created fund designed to help pay out claims after storms has enough cash and...
May 15 2015 // The Florida Office of Insurance Regulation (Office) has approved the removal of up to 30,000 personal residential policies and 50 commercial residential polices from Citizens Property Insurance Corporation (Citizens) by...
May 14 2015 // Eight Broward County, Fla., residents have been arrested for PIP (personal injury protection) fraud after an investigation by the Department of Financial Services’ Division of Insurance Fraud revealed the individuals...
May 14 2015 // Fitch Ratings has upgraded the rating on the following senior secured bonds of the Citizens Property Insurance Corp., FL, PLA/CLA to ‘AA-‘ from ‘A+’:–$1.1 billion series 2012A-1; –$200...
May 12 2015 // The Florida Department of Financial Services (DFS) will not appeal the recent jury decision that found Deloitte & Touche not liable in the insolvency of Tampa-based Poe Financial Group following the unprecedented...
May 12 2015 // Frankie Silva has been named assistant vice president of underwriting at GEICO’s regional office in Lakeland, Fla. Silva previously served as assistant vice president of underwriting in the company’s San Diego...
May 11 2015 // Citizens Property Insurance Corp.’s Board of Governors approved a $3.9 billion risk transfer package for the 2015 hurricane season that completely eliminates the potential assessment risk on Florida policyholders in...
May 8 2015 // Baldwin Risk Partners (BRP), a privately-held insurance and risk management holding company based in Tampa, Fla., has appointed Kris Wiebeck as chief financial officer. Wiebeck will oversee finance, mergers and...
May 7 2015 // Jardine Lloyd Thompson Capital Markets (JLTCM) Inc., part of JLT Re, has arranged a private placement catastrophe bond, Market Re 2015-1, which closed at $10 million. The new bond provides one year indemnity-based...
May 6 2015 // Florida Insurance Commissioner Kevin McCarty championed flexible state insurance regulation and warned against “one-size-fits-all” bank-like regulation for insurers in recent testimony before the U.S. Senate...
May 6 2015 // Florida-based Acentria Insurance has partnered with Lamar Dean & Associates Insurance Services, a provider of both personal and commercial insurance in the state. Kevin Mason, president of Acentria Insurance, said with...
May 5 2015 // The insurance industry, like other businesses, has come to realize it needs to do more to protect its companies, customers, employees and portfolios from cyber threats. Cyber-savvy professionals are in high-demand and are...
May 5 2015 // Triton Insurance Group, Inc., based in Margate, Fla., has entered the commercial insurance market with the acquisition of Phoenix Insurance Group, located in Coral Springs.Currently, Triton Insurance Group, Inc., offers...
May 5 2015 // A Key Largo, Fla., man is suing a hospital after his amputated leg was found in the trash. The Miami Herald reports that the man found out about the incident when homicide detectives knocked on his door and asked him why...
May 5 2015 // Fitch Ratings has assigned an ‘AA-‘ rating to the following senior secured bonds of the Citizens Property Insurance Corp., Coastal Account (formerly known as the High Risk Account):–$750 million series...