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So, they passed laws to help pay the reinsurance companies and laws to raise competition with incentives for new companies to come to Florida. The reinsurance laws didn't work, and the new ...
That same year, Japan-based Tokio Millennium Re Ltd. became an approved Florida reinsurance vendor. [10] As of 2011, Citizens had cash and investment totaling $11.3 billion and 1.3 million policyholders. [11] The Florida Council of 100 published a position paper in 2010 entitled, "Into the Storm: Framing Florida's Looming Property Insurance ...
A $60 billion loss would be similar to losses from Hurricane Ian, which hit Florida in 2022, the RBC analysts said on Wednesday, adding that this estimate for Milton should be "very manageable ...
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On July 21, 2010, President Barack Obama signed into law the federal Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank"), which contains the Nonadmitted and Reinsurance Reform Act of 2010 ("NRRA"). [1] The NRRA applies to nonadmitted insurance, which includes surplus line insurance and directly-procured insurance, and to ...
Insurance regulatory law is the body of statutory law, administrative regulations and jurisprudence that governs and regulates the insurance industry and those engaged in the business of insurance. Insurance regulatory law is primarily enforced through regulations, rules and directives by state insurance departments as authorized and directed ...
Fine wants to remove a gun-safety law passed by the Republican-led Legislature in 2018 after the Parkland school massacre. The bill, SB 94 , would lower the minimum age to purchase a gun from 21 ...
Treaty Reinsurance means that the ceding company and the reinsurer negotiate and execute a reinsurance contract under which the reinsurer covers the specified share of all the insurance policies issued by the ceding company which come within the scope of that contract. The reinsurance contract may obligate the reinsurer to accept reinsurance of ...