Scott Wallace, the President and CEO of Citizens Property Insurance Corporation (“Citizens”), has announced his resignation to be effective April 2012. The timing coincides with the completion of Florida’s most recent legislative session, which began today.
Read MoreRepresentative Bill Hager, R-Boca Raton, filed HB 1113 (the “Bill”) in the Florida House of Representatives at the end of December 2011 that would place new restrictions on claims bills and which lawmakers can file such bills. Claims bills, which are based on the state’s sovereign immunity laws, generally limit the liability of government agencies to $200,000.
Read MoreCurrently before the Florida Supreme Court is a case challenging the constitutionality of Section 626.854(6) of the Florida Statutes, which imposes restrictions on the solicitation of business by public adjusters within the 48 hours immediately following an event that may become the subject of a claim under an insurance policy. A decision is expected within weeks.
Read MoreOn October 6, 2011, the Florida Office of Insurance Regulation (“FOIR”) announced that the FOIR entered into reduced collateral agreements with Lloyd’s of London to 20% pursuant to Section 690-144.007 of the Florida Administrative Code (the “Rule”).
Read MoreOn September 20, 2011, the Florida Office of Insurance Regulation (“FOIR”) issued an order on the proposed rate increases by Citizens Property Insurance Corporation (“Citizens”) for homeowners, dwelling fire, and sinkhole coverage.
Read MoreFlorida’s Chief Financial Officer Jeff Atwater and Insurance Commissioner Kevin McCarty recently issued statements regarding the need for additional Personal Injury Protection (“PIP”) reform.
Read MoreThe law firms of Edwards Angell Palmer & Dodge LLP and Wildman, Harrold, Allen & Dixon LLP today announced that they will merge on October 1, 2011 (you can read the press release here). The new firm, with 13 offices and 650 lawyers, will be known as Edwards Wildman Palmer LLP.
Read MoreFlorida Insurance Commissioner Kevin McCarty (“McCarty”) said this week that he intends to phase in the expected significant rate increases for sinkhole coverage. As previously reported here, sinkhole coverage was a significant component of Florida recent property insurance reform legislation. Part of this reform was to lift a cap on rates charged by Citizens Property Insurance Company, Florida’s state-sponsored insurer of last resort.
Read MoreIn State Farm Florida Insurance Co. v. Seville Place Condominium Association, 2011 Fla. App. Lexis 11314 (Fla. 3d DCA July 20, 2011) Florida’s Third District Court of Appeal granted motions for rehearing and rehearing en banc and withdrew its prior October 14, 2009 opinion in the same case.
Read MoreEdwards Angell Palmer & Dodge’s Insurance and Reinsurance Department recently published its latest Newsletter, Insurance & Reinsurance Review – June 2011, which contains nine articles about various topics in the insurance and reinsurance industry.
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