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Insurance Council counters challenge to big workers’ comp rate hike

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An insurance industry council moved Monday to block a legal challenge to proposed workers’ compensation premium increases of nearly 20 percent, warning that delay would threaten the solvency of Florida’s system for compensating injured workers. The state Office of Insurance Regulation is scheduled to take up the rate hike Tuesday morning in Tallahassee. Delay, the National Council on Compensation Insurance warned, “could cause severe public harm, as workers’ compensation rates are currently not adequate to meet claims.” The group said…

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State asked to ok nearly 20 percent insurance rate hike for businesses

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Florida regulators are being asked to approve a nearly 20 percent rate hike in insurance premiums paid by the state’s business owners to cover their employees. The organization that submits rate filings on behalf of insurance companies filed the request Friday in response to a recent state Supreme Court decision. The high court in June struck down a law that limited payments to injured workers to two years. The National Council on Compensation Insurance is asking that regulators approve a…

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Personnel note: Floridian Partners hires OIR insurance expert George Feijoo

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After five years at the Florida Office of Insurance Regulation, insurance expert George Feijoo is leaving for a role at government affairs firm Floridian Partners. Feijoo, a Florida State University graduate in Actuarial Science with an MBA, has the designation of Chartered Property Casualty Underwriter (CPCU). During his stint at OIR, Feijoo worked at both the Property & Casualty Product Review and Life & Health Financial Oversight units. He also supervised approval of property and casualty contracts. At Floridian Partners,…

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David Altmaier named Insurance Commissioner

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A 34-year-old former high school math teacher was named Friday to be the next Florida Insurance Commissioner. David Altmaier, 34, currently a deputy commissioner at the Office of Insurance Regulation (OIR), starts on Monday. Altmaier, who will be paid $165,000 a year, began at OIR as an insurance examiner in 2008. The selection caps off weeks of indecision. Gov. Rick Scott and Chief Financial Officer Jeff Atwater have deadlocked at two previous Cabinet meetings. State law dictates they first have to agree on…

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Top state officials still can’t agree on new Insurance Commissioner

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A second Florida Cabinet meeting has ended with no agreement on a new state Insurance Commissioner. Gov. Rick Scott and Chief Financial Officer Jeff Atwater again deadlocked on Tuesday, further stalling the process. In a near replay of the last meeting, an intransigent Scott again moved to hire retired insurance executive Jeffrey Bragg. An equally intransigent Atwater declined to second the nomination after an almost palpably long silence. Under state law, Scott and Atwater first have to agree on one candidate. The Office Of Insurance Regulation is under the Department…

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Could new Insurance Commissioner be hired Tuesday?

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And then there were four. Gov. Rick Scott and the Florida Cabinet are scheduled to interview four candidates Tuesday for the position of state Insurance Commissioner. The Cabinet meeting kicks off at 9 a.m. in the Capitol. The interviews, which could result in someone being appointed at the meeting, are last on the agenda. Time is of the essence: Hurricane season starts June 1. “The coming … season should produce a near-average 12 named storms before it ends in November,” Insurance…

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Jeff Atwater selects three for OIR top job

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Chief Financial Officer Jeff Atwater again picked state Rep. Bill Hager and two others to be interviewed for state Insurance Commissioner at next Tuesday’s Cabinet meeting. The decision came in a Thursday email. The current commissioner, Kevin McCarty, plans to leave the post this year. Hager, a former Iowa Insurance Commissioner, is Atwater’s choice but Gov. Rick Scott wouldn’t second the nomination at the last meeting. Under state law, Scott and Atwater first have to agree on one candidate. The Office of Insurance…

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