The following final Rules relating to financial reporting requirements for insurers recently were adopted by the Florida Office of Insurance Regulation and will become effective on January 4, 2010 (to view the full text of a Rule, click on a Rule number below): 69O-137.001: Annual and Quarterly Reporting Requirements 69O-138.001: NAIC Financial Condition Examiners Handbook [...]
Intercontinental Marine Service Corporation, DBA First Warranty Group of Florida has been ordered into liquidation by the Leon County Circuit Court and its remaining motor vehicle service warranty agreements were cancelled as of 11:59 p.m. on December 18, 2009. For more information on the matter from the Florida Department of Financial Services ("DFS") Division of [...]
In two separate announcements issued today, December 22, 2009, the Florida Office of Insurance Regulation ("OIR") ordered a motor vehicle warranty company, as well as a health insurer and both of their respective affiliates to cease and desist transacting the unauthorized marketing and selling of insurance products in Florida. The OIR announcements are reprinted below. [...]
Florida Senator Dave Aronberg (D-27) recently filed Senate Bill 646 relating to Pain-Management Clinics, which would prohibit a person from owning or operating a pain-management clinic unless he or she is a physician with a clear and active Florida physician's license. Further, the bill prohibits pain-management clinics from employing or being owned by a physician [...]
A Special Session that will convene the Florida Legislature from December 3 through December 11, 2009 officially has been called for the sole purpose of considering legislation relating to the operation and infrastructure of a state passenger rail system. A joint proclamation issued late today, November 30, 2009 by Florida Governor Charlie Crist, Senate President Jeff Atwater [...]
A rate hike for Florida's largest property insurance carrier is expected to take effect early next year, but there is already talk that this anticipated rate hike may be insufficient to keep Citizens Property Insurance Corp. afloat in the wake of a big storm.
Homeowners Choice, Inc., a Florida-based insurance holding company, announced today that its proposal to merge with 21st Century Holding Company expired on Monday, Nov. 2, 2009, and it has ended for now its efforts to effect the merger.
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