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Despite concerns about the OIR, "State regulators have approved six property insurers to remove up to 151,000 policies from state-run Citizens Property Insurance Corp. in February [2014]. Florida's Office of Insurance Regulation last month approved First Community Insurance Co. to take out as many as 51,249 Citizens policies, while Safepoint ...
In 2022, news that 27 of Florida’s property insurance companies were potentially facing a financial rating downgrade from Demotech, the state’s primary financial rating firm, created panic in ...
But more than half of the 25 companies that state records show were approved to take on Citizens’ customers from 2013 to 2018 either left Florida, cut back on services or folded, the Miami ...
In late August, FIGA’s board and the Florida Office of Insurance Regulation (OIR) approved a .7 percent assessment to help cover the costs of open claims associated with the liquidated companies ...
Florida Department of Financial Services (FLDFS) is a state agency of Florida. Its headquarters are in Tallahassee . [ 1 ] In 2002 the Florida Legislature merged the Department of Insurance, Treasury and State Fire Marshal and the Department of Banking and Finance into one department, the Florida Department of Financial Services.
The Florida Hurricane Catastrophe Fund (FHCF) was created in 1993 in response to the Florida property insurance crisis resulting from Hurricane Andrew. The purpose for this state tax-exempt trust fund was to encourage additional insurance capacity in the state by providing a stable and ongoing source of reimbursement to insurers for a portion ...
With a legacy of more than 100 years, the Better Business Bureau (BBB) is the go-to watchdog for evaluating businesses and charities. The nonprofit organization maintains a massive database of ...
BBB National Programs, an independent non-profit organization that oversees more than a dozen national industry self-regulation programs that provide third-party accountability and dispute resolution services to companies, including outside and in-house counsel, consumers, and others in arenas such as privacy, advertising, data collection, child-directed marketing, and more.