florida

Startups Withstood Matthew, But More Modeling Needed: Florida Regulators Members Public

Billions in new capital dedicated to Florida hurricane risk withstood its first real test during 2016 storm season, but startup insurers created as a result of the state’s “take out” privatization program will need to model more dire scenarios in order to understand their true risk, state officials said.

Chris Westfall
florida

Reinsurance, “Takeout” Execs Vie to Become Florida’s Top Insurance Regulator Members Public

Two reinsurance executives — and a leader of a recently created “takeout” insurer — have placed their names into the process to replace outgoing Florida Insurance Commissioner Kevin McCarty. Richard McCarty — listed as the former senior vice president and general counsel of XL America — applied to become Florida’s top insurance regulator,

Chris Westfall
florida

Florida Catastrophe Fund Rejects Alternatives, Keeps Investments On Yield Leash Members Public

The commission responsible for overseeing Florida’s catastrophe pool has rejected a proposal to push the yield envelope on its $17 billion in assets at a Monday meeting. “There is a clear and present danger to paying a significant amount of claims in a relative short period of time,” said

Chris Westfall
florida

Florida Relentless Hurricane Insurance Takeout Targets 79,000 Members Public

The ongoing depopulation of Citizens Property Insurance Corporation continued Tuesday with the approval by Florida’s insurance regulator to “takeout” over 79,000 residential and commercial property insurance policies. The Florida Office of Insurance Regulation approved the “removal” of up to 78,897 personal residential policies and 500 commercial residential

Chris Westfall
florida