Insurance Commissioner Kevin McCarty Archives

Health insurance information unclear in Florida

September 16, 2013September 14, 2013 S.Vagus

Florida health insurance rates are hard to understand Florida residents may have to wait some time before they can get clear information concerning the rates of health insurance plans that will be sold through the state’s exchange system. The exchange is scheduled to begin open enrollment on October 1, but information concerning the costs that consumers will face through the exchange has been difficult to decipher. Analysts from the Kaiser Family Foundation states this week that the state has yet to provide information that can be clearly understood, which could…

Health insurance rates could spike in Florida

August 2, 2013July 31, 2013 S.Vagus

Health insurance rates are set to rise, warns Florida commissioner Health insurance rates could see a dramatic rise in Florida, according to Insurance Commissioner Kevin McCarty. The commissioner claims that health insurance rates for small businesses and individuals will rise as a result of the Affordable Care Act. Rising rates are being linked to the formation of an insurance exchange within the state. Florida will not operate its own health insurance exchange, the presence of the exchange and the provisions of the Affordable Care Act could make coverage significantly more…

New title insurance policy approved by Florida regulators

November 22, 2012December 1, 2012 Nordstrom

Title insurance continues to be difficult subject in Florida Title insurance in Florida has long been a tricky business. The state is considered a high risk market due to its exposure to hurricanes and tropical storms coming through the Gulf of Mexico. As such, the title insurance maerket in Florida can be difficult to navigate for some consumers more than in other states. This often creates problems for consumers, but there may be some relief in sight as the Florida Office of Insurance Regulations approves new measures to ensure the accessibility of affordable insurance…

Citizens Property Insurance gets approval for rate hikes

October 3, 2012 S.Vagus

Florida homeowners insurance, Citizens Property

Florida regulators approve rate increase proposal from Citizens Property Insurance Florida Businesses and homeowners can expect to see their insurance premiums jump by at least a double-digit sum early next year. Florida’s Citizens Property Insurance has been granted approval for a rate increase that will take effect January 1, 2013. The insurer’s rate proposal was approved by the Florida Office of Insurance Regulation this week. Though there are roughly three months before the new rates take effect, policyholders are up in arms over the approval of the rate hike. Homeowners…

Citizens Property Insurance rate increase struck down by Florida’s Insurance Commissioner

September 20, 2011 S.Vagus

Florida’s Insurance Commissioner has taken a bold stand against the state-run insurance company Citizens Property Insurance Corp. The insurer has been facing staunch opposition lately for a rate increase that will raise the rates of sinkhole coverage throughout the state by an average of 400%. Commissioner Kevin McCarty has ruled against the rate increase and now demands that the insurer make dramatic changes to their rate proposal. McCarty is keen to see the insurer propose new rates that are friendlier toward consumers. The insurer’s rate increase has been under investigation…

Auto insurance fraud on the rise – a call for serious change in Florida insurance system

August 18, 2011August 18, 2011 Nordstrom

Florida continues to combat auto insurance fraud despite new measures introduced to combat the problem. While the number of accidents in the state is on the decline, the occurrence of fraud continues to grow. Insurance Commissioner Kevin McCarty claims that widespread fraud has led to premiums for auto insurance to soar by $900 million since 2008. The mounting problem has lit a fire beneath Governor Rick Scott, who is now petitioning the state Legislature to make changes to both the insurance industry and its regulations to put an end to…

Florida Insurance Commissioner promises balance in Citizens rate increases

August 4, 2011August 4, 2011 Marc

In the wake of one of the largest insurance rate increases to hit the state, Florida’s Citizens Property Insurance has been the subject of criticism from the public and state regulators. The state-run insurance company recently received approval to hike up the premiums for sinkhole coverage by an average of 429%. These rates have yet to take effect, a fact that Insurance Commissioner Kevin McCarty has been keen to express. The Commissioner has vowed to ensure that the steep rate hike is to be phased in slowly, hoping to ease…