The Senate Banking and Insurance Committee will take up a proposal to replace the requirement motorists carry personal-injury protection coverage key to the no-fault system with mandatory bodily injury coverage.
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Insurance Journal’s Most Noteworthy Topics of 2020: Southeast Region
Some of the top insurance topics this year included:
Florida, Florida, Florida
The Florida property insurance market was a rollercoaster ride this year and Insurance Journal readers were along for it all as stories about the Florida insurance market dominated the headlines. While the state was lucky to avoid a major hurricane in 2020, it still dealt with plenty of issues from past storms and excessive claims litigation.
Insurer Ratings Drama
Insurance Journal broke the news in January that financial analysis firm Demotech, which rates more than 40 Florida-based domestic insurance carriers, had warned the head of Citizens Property Insurance Corp. that more than a dozen Florida insurers were facing ratings downgrades due to hazardous financial conditions. Demotech President Joe Petrelli penned an update on the Florida insurer downgrade situation for IJ soon after, stating that most companies would receive affi
Florida’s Altmaier to Assume NAIC Presidency for 2021 December 29, 2020
Members of the association of regulators elected these leaders for the new year:
President: Florida Insurance Commissioner David Altmaier
David Altmaier
Altmaier was appointed commissioner of the Florida Office of Insurance Regulation (OIR) by the Financial Services Commission on April 29, 2016. Altmaier began his public service at OIR in 2008, serving in a number of roles including chief analyst of the Property and Casualty Financial Oversight unit and deputy commissioner of Property and Casualty Insurance.
Altmaier succeeds 2020 NAIC President and South Carolina Insurance Director Ray Farmer.
President-Elect: Idaho Insurance Director Dean L. Cameron