By Jim Saunders, Carlos Beruff
The Fla.-owned insurer’s proposed rates weren’t discussed yesterday and will now be considered Jan. 26 after critics said proposed increases weren’t high enough. Citizens is no longer the insurer of last resort, it’s “the insurer of first resort and growing rapidly,” says Chairman Carlos Beruff.
TALLAHASSEE, Fla. – State-backed Citizens Property Insurance Corp. appears likely to delay a proposed rate filing announced earlier this week, as leaders worry about a rapidly increasing number of policies and trouble in the private insurance market.
The Citizens Board of Governors was expected to take up a proposal on Wednesday that called for an average rate increase of 3.7% for residential policies. But during a committee meeting Tuesday, Citizens Chairman Carlos Beruff pushed to delay a rate decision to give time for staff members to go on a “fact-finding mission” with state regulators on rate-related issues.
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NAIC Elects 2021 Officers News Direct Members of the National Association of Insurance Commissioners (NAIC) elected officers for 2021 during the closing activities of its Fall 2020 National Meeting, Wednesday December 9, 2020.
The following officers were elected for 2021:
President: Florida Insurance Commissioner David Altmaier
David 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 currently serves on the following NAIC Executive Committees: Government Relations Executive Leadership Council (Vice Chair); Internal Administration Executive 1 Subcommittee (Vice
EPO – Exclusive Provider Organization
A product offered by a health insurance company that, like an HMO, controls cost in part by generally restricting access only to healthcare providers who have contracts with the health insurance company (contracted providers are also referred to as in-network providers).
See Section 627.6472, F.S. for definitions of exclusive provider and exclusive provider provision.
FISO – Fiscal Intermediary Services Organization
A company that contracts with an HMO’s in-network providers and that collects payments on behalf of the providers from the HMOs.
HMO – Health Maintenance Organization
An MCO that provides comprehensive health coverage and that controls cost in part by generally restricting access only to healthcare providers who have contracts with the HMO.