Updated
Updated · Insurance Journal · Jul 16
Florida Regulators Propose 3 Insurance Rule Changes, Expanding Mediation and Tightening Complaint Triggers
Updated
Updated · Insurance Journal · Jul 16

Florida Regulators Propose 3 Insurance Rule Changes, Expanding Mediation and Tightening Complaint Triggers

1 articles · Updated · Insurance Journal · Jul 16

Summary

  • Three proposed Florida insurance rule changes would expand claims mediation, revise market-conduct exam triggers and require some quarterly filings even when no individually rated risks were written.
  • DFS is closest to finalizing the mediation update, which would extend a program long used for homeowner disputes up to $500,000 to auto and commercial residential claims and allow digital files instead of paper.
  • OIR is also seeking comment on new exam red flags, including sustained complaint levels of 1.5 in three of the last four quarters or 15-plus complaints in at least two quarters, plus high complaint-to-claim ratios after storms.
  • Insurer advocates said the complaint metrics need refinement because larger carriers naturally generate more claims and complaints; a hearing on the exam-trigger rule is set for July 23 in Tallahassee.
  • A separate proposal would require some property insurers to file quarterly reports on individually rated or excess-rate risks even in quarters when they wrote none, widening routine reporting obligations.

Insights

After major reforms stabilized Florida's insurance market, will these new rules be the final fix or a step too far?
As Florida redefines insurance complaints, are consumers losing a key tool to hold carriers accountable?