State Farm eliminates long-time discounts, rates increase

August 16th, 2010|Daily News|

As reported by the Gainesville Sun: Mark Albritton was able to knock $245 off his homeowner's insurance bill last year after a home inspection showed he was eligible for a wind mitigation discount. So he was dismayed to get a renewal notice from State Farm recently for more than the original amount to insure his [...]

Kevin McCarty: Insurance regulators unfairly attacked over company’s problems

August 12th, 2010|Daily News|

The Office of Insurance Regulation has endured many attacks regarding its solvency review for homeowners insurance companies and for measures taken by the office prior to a placing a company into receivership — most recently from Eli Lehrer of the Heartland Institute. Mr. Lehrer mentions he is concerned that “insurance rates are still sky high,” [...]

Sun-Sentinel: Q&A Florida Insurance Commissioner Kevin McCarty

August 11th, 2010|Daily News|

Florida Insurance Commissioner Kevin McCarty recently discussed Florida's biggest insurance issues, including rising rates, the national catastrophe fund, sinkholes and PIP Fraud. Read the entire story here

Florida Cabinet Approves Insurance-Related Rules; Re-Appoints Randy Dumm as Florida Commission on Hurricane Loss Projection Methodology Chair

August 11th, 2010|Daily News|

The Florida Cabinet met on August 10, 2010, during which it considered various insurance-related matters. Following is a brief summary of those items and the corresponding discussions that took place during the meeting.   Florida Office of Insurance Regulation Florida Office of Insurance Regulation (“OIR”) Deputy Commissioner Belinda Miller presented the following items for consideration by the Cabinet members, who assumed their role as the Financial Services Commission (“FSC”) for this portion of the agenda: […]

McCarty says more Florida insurer reviews to come

August 6th, 2010|News Releases|

Florida's top insurance regulator vowed to do more financial reviews of the state's insurers like the ones his office performed at the start of the year. Read the entire story here

National Underwriter: A.M. Best Downgrades Deteriorating State Farm Florida

August 3rd, 2010|Daily News|

The financial strength rating of State Farm Florida has been downgraded by A.M. Best Co. several days before the insurer begins non-renewing policies under a previous agreement with the state to keep it in Florida. Read the entire story here