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Florida’s insurance regulator has issued an emergency order that ensures “additional protections” to Florida policyholders – including freezing any rate hikes for 90 days – to support recovery efforts in areas impacted by Hurricane Michael.

The order by Florida Insurance Commissioner David Altmaier suspending and activating certain insurance rules was issued Oct. 15 in response to an executive order by Florida Gov. Rick Scott.

The order requires that insurers:

  1. Provide an additional 90 days to policyholders to supply required information to their insurance company. Many Floridians were displaced during this dangerous storm, and providing additional time to submit information to insurance companies gives them needed flexibility.
  2. Rescind for 90 days all non-renewals or cancellations issued to policyholders in the days leading up to Hurricane Michael. This gives policyholders 90 days to either renew their insurance policy, or find a new policy; and
  3. Freeze any and all efforts to increase rates on policyholders for 90 days.

“Governor Scott and Chief Financial Officer Jimmy Patronis have made it clear that the expectation for Florida’s insurance companies is to expeditiously respond to policyholders’ needs and to treat families fairly. The quick response of insurance companies is critical to the recovery of Florida families following Hurricane Michael,” according to a statement from the governor’s office.

Altmaier said the Florida Office of Insurance Regulation is working to “ensure every possible step that can be taken to assist those impacted by Hurricane Michael will be executed as soon as possible.”

Please enjoy the full article below;

https://www.insurancejournal.com/news/southeast/2018/10/16/504583.htm