All Press Releases

The Office of Insurance Regulation (OIR) has received the 2020 Florida workers’ compensation rate filing by the National Council on Compensation Insurance (NCCI), which proposes a statewide average premium decrease of 5.4%. The new rates would become effective January 1, 2020.

The Florida Office of Insurance Regulation (OIR) will conduct a rate hearing to receive public comment on Citizens Property Insurance Corporation (Citizens) proposed rate changes for its business in the Coastal Account (CA), Commercial Lines Account, and Personal Lines Account (PLA).

The Florida Office of Insurance Regulation (Office) signed a consent order that allows the twentieth reinsurer, VALIDUS REINSURANCE, LTD., to post reduced collateral and operate in Florida as an eligible reinsurer. This consent order makes VALIDUS REINSURANCE, LTD. the eighteenth Bermuda reinsurer to operate in Florida with similar terms. Bermuda reinsurers provide more than 60% of the private market reinsurance to Florida’s domestic insurers. The other two eligible reinsurers are from Germany and the United Kingdom.

The Florida Office of Insurance Regulation (Office) signed a Consent Order that allows the nineteenth reinsurer, Endurance Specialty Insurance, Ltd. ("Endurance"), to post reduced collateral and operate in Florida as an eligible reinsurer. This Consent Order makes Endurance the seventeenth Bermuda reinsurer to operate in Florida with similar terms. The other two eligible reinsurers were from Germany and the United Kingdom.

Office Allows Bermuda Reinsurers Ariel Reinsurance Company Ltd. and DaVinci Reinsurance Ltd. to Operate with Reduced Collateral

The Florida Office of Insurance Regulation (Office) signed a Consent Order that allows the thirteenth reinsurer, Aspen Insurance Limited ("Aspen"), to post reduced collateral and operate in Florida as an eligible reinsurer. This Consent Order makes Aspen the twelfth Bermuda reinsurer to operate in Florida with similar terms; the first reinsurer to operate with similar terms is from Germany.

The Florida Office of Insurance Regulation (Office) signed a Consent Order that allows the twelfth reinsurer, Arch Reinsurance Ltd. (Arch), to post reduced collateral and operate in Florida as an eligible reinsurer. This agreement makes Arch the eleventh Bermuda reinsurer to operate in Florida with similar terms; the first reinsurer to operate with similar terms is from Germany.

The Florida Office of Insurance Regulation (Office) signed a Consent Order that allows the eleventh reinsurer, Alterra Bermuda Limited ("Alterra"), to post reduced collateral and operate in Florida as an eligible reinsurer. This Consent Order makes Alterra the tenth Bermuda reinsurer to operate in Florida with similar terms; the first reinsurer to operate with similar terms is from Germany.

Office Allows Bermuda Reinsurer to Operate with Reduced Collateral Requirements

The Florida Office of Insurance Regulation (Office) today announced agreements with three Bermuda-based reinsurers to participate in Florida's insurance marketplace under modified regulatory terms: Ace Tempest Reinsurance Ltd. (Ace Tempest Re), Hiscox Insurance Company [Bermuda] Limited (Hiscox), and Partner Reinsurance Company Ltd. (Partner Re). The three companies are not affiliated with each other.

The Florida Office of Insurance Regulation (Office) today announced agreements with three Bermuda-based reinsurers to participate in Florida's insurance marketplace under modified regulatory terms: Ace Tempest Reinsurance Ltd. (Ace Tempest Re), Hiscox Insurance Company [Bermuda] Limited (Hiscox), and Partner Reinsurance Company Ltd. (Partner Re). The three companies are not affiliated with each other.

TALLAHASSEE, Fla. – The Florida Office of Insurance Regulation (Office) today announced an agreement with Bermuda-based reinsurer XL Re Ltd (XL) to participate in Florida's insurance marketplace under modified regulatory terms. During a Property Insurance Special Session in 2007, Florida lawmakers passed legislation that authorized the Office to establish lower collateral requirements for alien (non-U.S.) reinsurers that are highly-rated and financially sound.

The Florida Office of Insurance Regulation (Office) today announced a new agreement that encourages foreign reinsurance companies to join Florida’s marketplace, something that Florida’s Legislature promoted as a result of the 2007 Property Insurance Special Session. The goal is to recruit more reinsurers to conduct business in Florida by reducing collateral requirements for qualified companies.