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The Florida Cabinet has selected David Altmaier to be the state’s new insurance commissioner.

Altmaier, 34, is currently a deputy commissioner within the Florida Office of Insurance Regulation. He will replace Kevin McCarty, who is stepping down after 13 years on the job

Altmaier was one of three candidates, all OIR employees, interviewed at a special Cabinet meeting today.

He was selected after members of the Cabinet could not agree at previous meetings or at today’s on other candidates including Rep. Bill Hager; Jeffrey Bragg, a former federal insurance official; or Belinda Miller, who is OIR chief of staff.

Florida law requires that the governor and CFO must agree on the choice of an insurance commissioner, who can then be hired with the support of at least one other Cabinet member.

Attorney General Pam Bondi and Agriculture Commissioner Adam Putnam joined Gov. Rick Scott and CFO Jeff Atwater in supporting Altmaier.

Please enjoy the full article below!

http://www.insurancejournal.com/news/southeast/2016/04/29/407083.htm

Please call L & S Insurance at 1-888-244-7400 for free quotes on Home Insurance, Flood, Private Flood, Auto, Business & Commercial & Life & Financial products as well.

Legislation that supporters say would open the Flood insurance market to more private insurers pass the U.S. House of Representatives today on a vote of 419-0.

The Flood Insurance Market Parity and Modernization Act, H.R. 2901, which requires private Flood insurance to be treated the same as federal Flood insurance for homeowners with federally backed mortgages who are required to buy coverage, now

Passage of this legislation in the Senate is now the group’s number one priority, it said.

“The Flood Insurance Market Parity and Modernization Act will be a great benefit to consumers so that they have more choices when it comes to flood insurance, said Robert Hartwig, president of the New York City-based Insurance Information Institute. “Now insurers can compete with the NFIP on a more-equal footing, increasing consumer options while at the same time protecting taxpayers.”

“Enactment of this bill will give consumers more choices when it comes to Flood insurance. It will also help encourage development of a private Flood insurance market to complement the NFIP,” said Tom Santos, vice president for federal affairs for the Washington, D.C.-based American Insurance Association. “The overwhelming bipartisan vote by the House creates additional momentum as the bill moves to the Senate.”

Please enjoy the full article below!

http://www.propertycasualty360.com/2016/04/28/house-passes-private-flood-insurance-bill?eNL=5722731b150ba08846d6f8f7&utm_source=PC360_NewsFlash&utm_medium=EMC-Email_editorial&utm_campaign=04282016

Please call L & S Insurance at 1-888-244-7400 for free quotes on Home Insurance, Auto, Flood, Private Flood, Business & Commercial, & Life & Financial products as well.

For the second time in a month, Florida Gov. Rick Scott and Chief Financial Officer Jeff Atwater could not reach an agreement over who will become the next insurance commissioner for the state.

At the April 26 Florida Cabinet Meeting, Cabinet Members Scott, Atwater, Attorney General Pam Bondi and Agriculture Commissioner Adam Putnam interviewed a total of four candidates from the 71 applicants who applied to the position. The spot will soon be vacated by current Insurance Commissioner Kevin McCarty, who announced his plan to resign earlier this year.

McCarty said back in January that he would resign effective May 2. The Cabinet then opened up an online application with the goal of appointing a successor at its March 29 meeting, before the start of hurricane season. However, at the March meeting, Scott refused to second Atwater’s nomination of Hager. The Cabinet needs to reach a unanimous decision on the choice with Atwater and Scott’s votes carrying the most weight.

Please enjoy the full article below;

http://www.insurancejournal.com/news/southeast/2016/04/27/406601.htm