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2004-12-17 11:10:36
Hurricane Deductibles Package Passed in Special Session
The Florida Legislature passed the hurricane deductibles package today and concluded the special session a day early.
As reported, HB 9A
allows policyholders who faced multiple hurricane deductibles this season to apply for grants
of up to $10,000 for the second and subsequent deductibles. The bill also creates a single season deductible,
effective May 1, 2005. The bill requires insurers to apply the percentage hurricane deductible for the first
hurricane and the other perils deductible for subsequent storms.
Financing for the grants will come from $150 million appropriation from the Florida Hurricane Catastrophe Fund,
a loan being repaid through a $30 million a year increase in insurers' premiums into the fund for five years
beginning in 2006.
SB 30-A, the public records exemption bill, was passed by the Senate, but was not taken up by the House
and died in messages. Under the SB 30-A, policyholder information would have remained confidential
for 90 days, and information identifying specific insurers would have been confidential permanently.
Additionally, House Speaker Allan Bense and Senate President Tom Lee agreed to appoint a joint task force
to study other insurance issues that came up during the 2004 hurricane season. The task force is expected
to be announced soon and submit a report by February 28, in advance of the 2005 regular session, which begins March 8.
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2004-12-14 08:55:14
Legislative Special Session During Week Of 12/13/2004
There are two House Bills and one Senate Bill that have been filed for consideration in the Legislative Special Session taking
place the week of December 13th.
HB 9A addresses the deductible reimbursement program;
HB 27A allows a hurricane deductible to apply only
once in a calendar year and requires the Cat Fund to establish a program to reimburse insurers for losses resulting from that application;
and SB 10A that also addresses hurricane deductibles.
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2004-12-01 16:01:52
DFS Rule: 69OER-04-06: Special Provisions; Personal Residential and Commercial Residential Property Insurance Policies
The Florida Department of Financial of Financial Services and Office of Insurance Regulation have issued a Rule extending the moratorium prohibiting (in some cases) cancellations and non-renewals of personal and commercial residential risks. The rule expires on December 31, 2004.
For a copy of the Rule 69OER-04-06: Title: Special Provisions; Personal Residential and Commercial Residential Property Insurance Policies, download the PDF file at:
http://www.fldfs.com/companies/pdf/69OER04-06.pdf
For a listing of all 2004 FLOIR Hurricane Orders, Rules, and Memorandums, please visit the following link to the Florida Department of Financial Services Hurricane Update page:
http://www.fldfs.com/companies/
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2004-11-23 16:42:23
DFS Rule Variance: 69OER-04-19
The Florida Department of Financial of Financial Services and Office of Insurance Regulation has issued an Emergency Variance from Rule 69OER-04-19 regarding requirements related to public adjusters in the aftermath of Hurricanes Charley, Frances, Ivan and Jeanne.
For a copy of the Emergency Variance for Rule 69OER04-19, download the PDF file at:
http://www.fslso.com/docspubs/press/variance.order.pdf
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2004-11-16 13:48:10
DFS Emergency Rule: 69BER04-22
The Florida Department of Financial of Financial Services has issued an Extension of Emergency Rule in
regards to requirements relating to public adjusters in the aftermath of Tropical Storm Bonnie and Hurricanes
Charley, Frances, Ivan and Jeanne.
For a copy of Rule 69BER04-22, download the PDF file at:
http://www.fslso.com/docspubs/press/DFS-69BER04-22.pdf
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2004-10-12 14:26:12
DFS Rules On The Resolution Of Storm Damage Disputes
The Florida Department of Financial Services distributed Emergency Order 78129-04-CO which provides alternative procedures for resolution for disputed personal lines insurance claims arising from hurricane and tropical storm damage.
For a complete copy of the Emergency Order, 78129-04-CO, download the PDF version at:
http://www.fslso.com/docspubs/press/bulletin-2004-10.pdf
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2004-10-08 16:16:23
DFS Emergency Orders, Rules and Informational Memorandums
For those industry members who may not have received a copy or been notified of any of the Florida
Department of Financial Services' Emergency Orders, Emergency Rules or Informational Memorandums for the
current hurricane season, you may view all of them at the Department's website at http://www.fldfs.com/companies/.
You will also find additional resources, such as, state and federal disaster/emergency toll-free numbers,
as well as, state and federal disaster/emergency website information.
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2004-09-20 15:23:07
DFS Emergency Rule: Public Adjusting 69BER04-15
The Department of Financial Services has issued an Emergency Rule to provide direction to public adjusters in the wake of Hurricane Ivan.
For a copy of the Emergency Rule on Public Adjusting relative to Hurricane Ivan, download the PDF file here.
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2004-09-14 15:09:12
OIR Emergency Orders
The Office of Insurance Regulation issued Emergency Order EO-78062-04-CO and Amended Emergency Order EO-78059-04-CO
to amend its non-renewal/cancellation moratorium for hurricanes
Charley and Frances to have statewide application, which will affect all Florida counties in the following manner:
With the exception of commercial insurance policies for firms or companies principally based outside of Florida,
all insurance policies may not be cancelled until after October 15, 2004.Florida homeowners' insurance policies may not be cancelled or non-renewed through November 30, 2004.No homeowners' insurance policy can be cancelled solely as a result of claims resulting from Hurricane
Charley or Hurricane Frances.The Order also prohibits insurers from instituting rate hikes without prior approval from the Office of Insurance Regulation.All Property and Casualty insurers must report claims activities on a monthly basis, beginning September 30th through
June 30th 2005 as noted in Emergency Order, Case 78062-04-CD.
(For a complete copy of Emergency Order, Case 78062-04-CD,
download the PDF file here).
For a complete copy of Amended Emergency Order, Case 78059-04-CD,
download the PDF file here.
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2004-09-09 16:38:14
EMERGENCY RULE: PUBLIC ADJUSTING 69BER04-14
The Office of Insurance Regulation has issued another Emergency Rule to provide direction to public
adjusters due to the storm damage during the 2004 hurricane season.
The Rule prohibits compensation provisions in a public adjusting contract from being redacted
in any copy of the contract provided to an insurer. The Rule provides that such a redaction
shall constitute an omission of material fact in violation of Section 626.9541(1)(e)2., Florida Statutes.
The Rule applies to claims from any storm in the 2004 hurricane season.
For a copy of the Emergency Rule on a Redaction of Compensation Provisions in Public Adjusting Contracts, download the
PDF file here.
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2004-09-03 18:31:48
EMERGENCY RULE: PUBLIC ADJUSTING 69BER04-13
The Office of Insurance Regulation has issued an Emergency Rule to provide direction to
public adjusters in the wake of Hurricane Frances.
The rule adopts emergency ethical standards to be applied to claims resulting from Hurricane Frances.
The rule limits public adjuster commissions to a maximum of 10 percent of insurance proceeds regardless
of whether the risk is residential or commercial. The rule also prohibits public adjusters from
requiring, demanding, or accepting payments prior to settlement of a claim.
The rule requires certain standards for public adjuster contracts to reduce risk of deception.
The rule also establishes ethical standards to avoid incompetence, conflict of interest, or deception.
The rule also establishes a 14-day rescission period for public adjuster contracts.
Additionally, the rule prohibits public adjusters from entering into a contract to adjust a residential
property claim that has been declared a total loss, unless the public adjuster services can reasonably
be expected to benefit the claimant.
For a copy of the Emergency Rule on Public Adjusting relative to Hurricane Frances, download a
PDF copy here.
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2004-09-03 10:30:12
SHUT-DOWN DUE TO HURRICANE FRANCES
FSLSO has been monitoring Hurricane Frances. In accordance with our disaster preparedness procedures, FSLSO is on "alert" mode.
It is anticipated that Hurricane Frances will make landfall somewhere between Daytona Beach and
Miami sometime Saturday. FSLSO will stop accepting files at 7 p.m. today in order to back-up our
database and begin shut-down procedures.
Reports have Hurricane Frances moving at 9 m.p.h., a slow paced storm that will be affecting Florida's
interior through Monday. FSLSO will send an eNews to notify its submission contacts as to when operations have resumed.
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2004-09-03 10:28:25
FSLSO C.E. Cancelled
Due to the possible ramifications from Hurricane Frances, and the potential impact affecting FSLSO members,
the FSLSO has cancelled its September 14th continuing education course, "An Overview of Insurance Fraud Affecting
the Marketplace and the Florida Surplus Lines Service Office" in Miami, FL.
The FSLSO intends to reschedule this course at a later date in October and we appreciate your understanding
in this matter. For more information, please continue to check our website at (http://www.fslso.com).
If you have any questions regarding furture education offerings, please feel free to contact our office,
toll-free at 1-800-562-4496, ext. 309.
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2004-08-31 09:29:48
Citizens' Hurricane Charley Information
Citizens Property Insurance Company (Citizens) has released their projections as a result of
Hurricane Charley. Included in Citizens' announcement are projections for:
estimated losses, cash flow projections, and projected High-Risk Account claims by county.
Citizens announced that it will be able to pay all losses without pre-event note funds
and does not anticipate a need for assessments to financially recover from an operational
deficit at this time. For more information, you may view the document
here.
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2004-08-24 16:16:21
Special Assessment Information References
For your information and convenience, the FSLSO has recently posted links to the statute references regarding
assessments levied by both Citizens Property and Casualty Insurance Company (Citizens)
and the Florida Hurricane Catastrophe Fund (FHCF). These references may be found in the new
Statutes/Licensing section of the FSLSO website.
In addition, the Florida Hurricane Catastrophe Fund's web address has been added to
our Links page.
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2004-08-19 11:25:41
OIR Emergency Order 77677-04-CO
The Office of Insurance Regulation has issued an Emergency Order to provide temporary and emergency relief to
those affected by Hurricane Charley.
The Order provides requirements for extension of grace period, reinstatement, and miscellaneous periods; limitation
on cancellations and nonrenewals. Please read and review the Emergency Order, a copy of which
is available here.
If you have any questions of interpretation, please contact FSLSO toll-free at 1-800-562-4496, extensions 304, 305, and 306.
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2004-08-19 11:22:23
DFS Emergency Rule 69BER04-4
The Office of Insurance Regulation has issued an Emergency Rule to provide direction to public adjustors
in the wake of Hurricane Charley.
The rule sets limits on charges by public adjusters to no more than 10 percent of any insurance settlement
or proceeds and no public adjuster may demand or accept a fee prior to settlement of the claim. The rule
also sets forth contractual provisions to be provided by anyone licensed by the Department as an
"emergency public adjuster;" it also provides general ethical requirements.
For a copy of the Emergency Rule on Public Adjusting, see:
http://www.fslso.com/docspubs/press/DFS.Emergency.Rules.pdf
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2004-08-12 10:28:47
FSLSO Severe Weather Alert Status
FSLSO Status
FSLSO has been monitoring both tropical disturbances Bonnie and Charley.
According to our disaster preparedness procedures, FSLSO will continue to be on
"alert" mode until the duration of the storms have passed.
The FSLSO will be accepting files today as operations were resumed as of 9:15 a.m.
In addition, FSLSO will continue to monitor Hurricane Charley. Should conditions
worsen and a possible shut-down occur, the FSLSO will send out another alert.
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2004-08-11 15:36:25
FSLSO Alert Status
POSSIBLE SHUT-DOWN DUE TO STORMS BONNIE AND CHARLEY
FSLSO has been monitoring both Tropical Storms Bonnie and Charley. According to our disaster preparedness procedures, FSLSO is on alert mode.
It is anticipated that Tropical Storm Bonnie may be upgraded to hurricane status between now and 7 a.m. Thursday, August 12, and making landfall somewhere between the Florida/Alabama state line and the Suwanee River. Due to the possiblity of the storm becoming a hurricane, FSLSO will stop accepting files at 5 p.m. today, August 11, in order to back-up our database. FSLSO will send an eNews to notify its submission contacts when operations have resumed.
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2004-08-03 16:53:21
Florida Surplus Lines Licensing Requirements
FSLSO explains Florida's Licensing Requirements for resident and nonresident surplus lines agents. The explanation
includes information relative to the prerequisites to qualify for the licensing exam, what is required for the
license application and appointment, information regarding the required surety bond and membership with FSLSO.
For more information, please visit (http://www.fslso.com/about/licensing.asp).
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2004-07-22 12:14:12
FSLSO Education
Unauthorized Insurance Entities, Knowing the Difference
This new online continuing education course offering is approved for two hours of
illegal entities subject matter and is designed to provide the student with an
understanding of the differences between an unauthorized insurer and an illegal
insurance entity. It will also discuss the intricacies of how specific insurance
entities are regulated and how illegal insurance entities operate; how to protect
oneself from becoming a target for these types of fraudulent operations; and, how the
Florida Surplus Lines Service Office provides information regarding eligible surplus
lines insurers.
For more information, please visit (http://www.fslso.com/education).
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2004-07-02 10:44:12
FSLSO
FSLSO will be closed on Monday, July 5 in observance of Independence Day.
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2004-06-30 10:51:38
2003 Insurer Financials Update
The 2003 annual financial information for all foreign insurers has been made available on FSLSO's website.
This information includes key financial elements such as capital and surplus, underwriting gains (losses)
and FSLSO premiums processed. The Insurer Financial Data also contains basic information about the company
such as state of domicile, website address, parent company, A.M. Best rating and much more.
Please visit:(http://www.fslso.com/market/insurer/index.asp)
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2004-06-14 15:14:23
FSLSO Advisor
The 2004 2nd quarter FSLSO Advisor newsletter is now available online.
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2004-06-11 09:12:41
FSLSO Education
FSLSO Continuing Education Course, June 22, Orlando
"Navigating Marine Workers Compensation and an Overview of the Florida Surplus Lines Service Office" is the course subject for the
C.E. course on June 22, in Orlando from 8 a.m. to noon. Become informed about the Longshore and Harborworkers Act,
Maritime Employers Liability, the Jones Act, and all forms of marine exposures. There is no charge for licensed
surplus lines agents and all others pay a $60 registration fee. Please register as early as possible - advanced
registration is highly recommended as this class is filling quickly!
This class will be held at the Radisson
Plaza Hotel Orlando, 60 South Boulevard. Onsite registration will begin at 7:30 a.m. with class following
from 8:00 a.m. to 12:00 p.m. A continental breakfast will also be available at 7:30 a.m. Participants may
register online here.
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2004-05-26 09:45:54
FSLSO
FSLSO will stop importing files Friday, May 28, 2004 at 5:00 p.m. to begin month-end
billing. Submissions will still be accepted via FTP, but they will not be imported and
billed for this month's accounting period if not received by that time.
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2004-03-29 08:43:18
Surplus Lines Legislative Update
House and Senate bills, HB 1779 and SB 2588, currently contain amendments to specify that nonresident agents
are subject to the same requirements as resident agents, in terms of the Surplus Lines Law, as well as,
authorizing the FSLSO to file suite on behalf of the Department of Financial Services against any agent who fails to
pay their tax or service fee. As of March 26, 2004, these bills have yet to pass the House or Senate.
For copies of the bill texts, visit (HB 1779) and
(SB 2588) on
the Florida Senate website site.
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2004-03-22 11:51:21
Florida Department of Financial Services
The latest edition of The Intercom, the Florida Department of Financial Services' newsletter, is now
available to download by clicking on the following link:
http://www.fldfs.com/Agents/AgentIntercom/agint0104.pdf.
If you are searching for a previous edition, please visit The Intercom archive at
http://www.fldfs.com/Agents/AgentIntercom.
The Florida Department of Financial Services has also recently released a new online publication called Consumer eViews.
This electronic weekly newsletter is free and available to all interested parties through subscription at the following
website: http://fldfs.com/PressOffice/Newsletter/index.htm.
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2004-01-19 15:25:41
FSLSO Bulletin 04-001
The FDFS/OIR approved a reduction in the service fee charged by the FSLSO from 0.3% to 0.25%,
effective April 1, 2004. All new and renewal policies/certificates with an effective date
on or after April 1, 2004 will incur a service fee of 0.25% of the total gross premium.
All endorsements, audits, installments, cancellations or return of premium transactions will
be the same fee rate as applied at the inception date of the policy/certificate.
For details, read FSLSO Bulletin 2004-001.
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