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A 2021 analysis by then-Florida Insurance Commissioner David Altmaier found that Florida made up 8% of the nation’s homeowners’ claims in 2019, but 76% of its lawsuits.
Florida’s insurance commissioner submitted his letter of resignation Thursday, a day after the Legislature made major changes to the state’s troubled property insurance market.
Florida’s crumbling homeowners insurance market is exposing one of the state’s long-running flaws: its reliance on a single company to certify the majority of the state’s insurers.
The most visible responsibility of the officeholder was as Insurance Commissioner. Following the Cabinet reform, the office was merged with that of the state Comptroller to create the new office of Chief Financial Officer of Florida, which oversees the Florida Department of Financial Services. The new department contains many of the functions ...
The office of the insurance commissioner may be part of a larger regulatory agency, or an autonomous department. Insurance law and regulation is established individually by each state. In order to better coordinate insurance regulation among the states and territories, insurance commissioners are members of the National Association of Insurance ...
A Florida law prohibited Florida-licensed insurance agents from engaging in certain insurance activities [3] such as deposits and engage in any activity incidental to receiving deposits where the agent was related with, [2] among other things, any bank than one which was not a subordinate or associate of a bank capital company, and was located ...
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 ...
In 1988, Gallagher ran in a special election for the office of Treasurer, Insurance Commissioner and Fire Marshal of Florida to fill the last two years of the term of Democrat Bill Gunter, who had resigned to run for the U.S. Senate. He won the Republican nomination handily, taking 459,451 votes (76.48%) to Jeffrey L. Latham's 94,608 (15.75% ...