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HTMLNAIC Releases 2014 Insurance Department Resources Report--Volume Two
Colodny Fass P.A.;
Legal Alert/Article
August 5, 2015, previously published on August 4, 2015
The National Association of Insurance Commissioners ("NAIC") released the second volume of the 28th edition of the Insurance Department Resources Report ("IDRR") today, August 4, 2015.

 

HTMLFlorida Governor Rick Scott Orders Examination of Medicaid Insurer, Hospital Contracts
Colodny Fass P.A.;
Legal Alert/Article
August 5, 2015, previously published on August 3, 2015
Florida Governor Rick Scott sent Florida Agency for Health Care Administration ("AHCA") Secretary Liz Dudek a letter today, August 3, 2015, in which he asked AHCA to take immediate action with hospitals and insurance companies that have failed to certify that their contractual agreements...

 

HTMLU.S. Collaboration on International Insurance Capital Standards Could Be Enhanced, Government Accountability Office Reports
G. Donovan Brown; Colodny Fass, P.A.;
Legal Alert/Article
August 5, 2015, previously published on August 3, 2015
With large, internationally active insurance companies accounting for 28 percent of the aggregate insurance premiums underwritten in the United States in 2014, the U.S. Government Accountability Office ("GAO") was asked to review the international group-level insurance capital standards...

 

HTMLInsurer Civil Remedy Bill (HB 5) Filed For 2016 Florida Legislative Session Would Provide Bad Faith Immunity For 45-Day Settlement Window
Colodny Fass P.A.;
Legal Alert/Article
August 5, 2015, previously published on August 4, 2015
Filed by State Representative Mike Hill yesterday, August 3, 2015, HB 5 Relating to Civil Remedies Against Insurers would revise Florida's insurance laws relating to bad faith by providing a 45-day window in which insurers would be able to make payment offers and not be potentially liable for bad...

 

HTMLRegulators Hone NAIC Price Optimization White Paper; Next Steps and Recommendations Due by July 31, 2015
G. Donovan Brown; Colodny Fass, P.A.;
Legal Alert/Article
August 4, 2015, previously published on July 28, 2015
The National Association of Insurance Commissioners' Casualty Actuarial and Statistical Task Force ("Task Force") met via teleconference on July 21, 2015 to review comments received on the May 19 Price Optimization White Paper ("White Paper") draft. A first draft had been...

 

HTMLNAIC Completes Own Risk and Solvency Assessment Pilot Project; Florida ORSA Legislation Expected for 2016
Claude Mueller; Colodny Fass P.A.;
Legal Alert/Article
August 4, 2015, previously published on July 30, 2015
Florida is among a growing minority of states that have yet to implement the National Association of Insurance Commissioners' ("NAIC's") Risk Management and Own Risk and Solvency Assessment Model Act (#505) as of mid-June 2015. Enacting Own Risk and Solvency Assessment ("ORSA")...

 

HTMLFlorida Office of Insurance Regulation Begins Insurance Holding Company Supervision Rule Development
Colodny Fass P.A.;
Legal Alert/Article
August 4, 2015, previously published on July 27, 2015
Rulemaking relating to insurance holding companies and acquisitions of entities regulated by the Florida Insurance Code has been initiated by the Florida Office of Insurance Regulation ("OIR").

 

HTMLFlorida Office of Revenue Amended Insurance Premium Tax Rule Relating to Nonprofit Scholarship Funding Organizations Effective July 28, 2015
Colodny Fass P.A.;
Legal Alert/Article
August 4, 2015, previously published on July 29, 2015
The Florida Office of Revenue has amended Rule 12B-8.001, F.A.C. relating to Insurance Premium Tax Rate and Computation. The final adopted version became effective yesterday, July 28, 2015. In the State of Florida, an insurance company that contributes to eligible nonprofit scholarship funding...

 

HTMLFederal Advisory Committee on Insurance Expands Maximum Number of Members to 25
G. Donovan Brown; Colodny Fass, P.A.;
Legal Alert/Article
August 4, 2015, previously published on July 17, 2015
Membership of the Federal Advisory Committee on Insurance ("FACI") has been expanded from 21 members to up to 25 members, the U.S. Treasury announced today, July 17, 2015, in a notice that also advised the FACI charter has been renewed for a two-year period that began last week on July 8.

 

HTMLFlorida Office of Insurance Regulation Updates NAIC Annual and Quarterly Reporting Requirements, Financial Condition Examiners Handbook
Colodny Fass P.A.;
Legal Alert/Article
August 4, 2015, previously published on July 29, 2015
Revisions to two Rules relating to National Association of Insurance Commissioners ("NAIC")-prescribed procedures adopted by the Florida Office of Insurance Regulation ("OIR") became effective yesterday, July 28, 2015.

 


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