Category(s): National - 03/21/2025

Notably, the 2025 renewal of the NFIP’s traditional reinsurance program was backed by twenty-seven private reinsurance companies, whereas last year’s smaller $619.5 million renewal for 2024 was backed by only eighteen reinsurers. Click here  to read more.

Fred E. Karlinsky, Esq. - GREENBERG TRAURIG, P.A., (954) 768-8278 , karlinskyf@gtlaw.com

Category(s): National - 03/21/2025

The forecasted revenue represents a 6.2% increase over 2024, while the projected expenses continue a trend of operating with deficits, a practice the nonprofit group has managed in prior years. For example, the 2022 budget projected a deficit of $7.5 million. Click here  to read more

Fred E. Karlinsky, Esq. - GREENBERG TRAURIG, P.A., (954) 768-8278 , karlinskyf@gtlaw.com

Category(s): National - 03/21/2025

The $4.5 billion fourth-quarter Catastrophe bond and related insurance-linked securities market issuance has taken the outstanding market to a record near $50 billion. This, from the just-published Artemis Q4 2024 Catastrophe Bond and related insurance-linked securities Market Report, which also reported the full-year 2024 total at a record $17.7 billion, from ninety-three transactions. Click here  to read more.

Fred E. Karlinsky, Esq. - GREENBERG TRAURIG, P.A., (954) 768-8278 , karlinskyf@gtlaw.com

Category(s): Arizona - 03/21/2025

The Arizona Department of Insurance and Financial Institutions (DIFI) has recently indicated that it may start rejecting rate filings that rely on or include insurance scoring or other modeling information provided by third parties which DIFI believes fit the definition of “Advisory Organizations” but are not registered as such with the State of Arizona. Historically, insurers have filed these models directly with DIFI as part of their rate filings, indicating a broadening in DIFI’s interpretation of the definition of “Advisory Organization.”

Jennifer L. Kraham, Esq. - KUTAK ROCK LLP, (480) 429-4835 , Jennifer.Kraham@kutakrock.com
Kathy A. Steadman, Esq. - Kutak Rock LLP, 480-429-4893 , Kathy.Steadman@kutakrock.com

Category(s): Florida - 03/21/2025

Florida Chief Financial Officer (CFO) Jimmy Patronis announced the appointment of Frank White of Pensacola to the Citizens Property Insurance Corporation Board of Governors. The Florida Legislature created Citizens in August 2002 as a not-for-profit, tax-exempt government entity to provide property insurance to eligible Florida property owners unable to find insurance coverage in the private market. Click here  to read more.

Fred E. Karlinsky, Esq. - GREENBERG TRAURIG, P.A., (954) 768-8278 , karlinskyf@gtlaw.com

Category(s): Florida - 03/21/2025

In the budget released Monday, about $590 million are earmarked for the My Safe Florida Home program, a “home-hardening” effort that pays for wind mitigation upgrades to help strengthen homes against storms and lower insurance premiums. Click here  to read more.

Fred E. Karlinsky, Esq. - GREENBERG TRAURIG, P.A., (954) 768-8278 , karlinskyf@gtlaw.com

Category(s): Florida - 03/21/2025

The decision upheld a reform introduced in Florida in 2023 in the form of Senate Bill 2-A, which prohibited the state's long-standing practice of assigning benefits to another party for those holding insurance policies issued after January 1 of that same year. Click here  to read more.

Fred E. Karlinsky, Esq. - GREENBERG TRAURIG, P.A., (954) 768-8278 , karlinskyf@gtlaw.com

Category(s): Florida - 03/21/2025

The Governor noted Citizens’ reduction in policies show a private market with a lot of competition. To that end, Florida had the lowest private premium increases in the nation in 2024, DeSantis said, in another good sign, with eleven new companies coming in in the last year. Click here  to read more.

Fred E. Karlinsky, Esq. - GREENBERG TRAURIG, P.A., (954) 768-8278 , karlinskyf@gtlaw.com

Category(s): Georgia - 03/21/2025

In Insurance Marketing Coalition Ltd. v. FCC,WL 289152 (11th Cir. January 24, 2025), the U.S. Court of Appeals for the Eleventh Circuit struck down new Federal Communications Commission (FCC) regulations targeted at customer lead generators that were set to become effective on January 27, 2025. Under the Telephone Consumer Protection Act (TCPA), sellers and telemarketers are prohibited from making certain types of telemarketing calls using an automatic telephone dialing system (ATDS) or artificial or prerecorded voice messages without “prior express written consent” from called persons.  The FCC objected to lead generators using a single webform to obtain prior express written consent for a list of multiple marketing partners. The FCC also objected to webforms that obtained broad consent for marketing calls about a wide-range of types of products and services. The FCC’s 2023 order adopted a new definition of “prior express written consent” that would have prohibited consumers from giving consent to receive marketing calls from more than one company at a time or about products and services that were not “logically and topically associated with” those promoted on the website. The Eleventh Circuit held that the FCC exceeded its authority under the TCPA because the consent restrictions conflicted with the ordinary meaning of “prior express consent.”  Click here  to read more.

Brian T. Casey, Esq. - Troutman Pepper Locke LLP, (404) 870-4638 , Brian.Casey@troutman.com

Category(s): Georgia - 03/21/2025

On February 20, 2025, Commissioner John F. King issued Directive 25-EX-1 to inform Georgia health insurers that, as of March 1, 2025, the requirements for providing the CATCH Report to the Commissioner have been updated. This report is necessary to demonstrate compliance with O.C.G.A. § 33-20E-24. Insurers reports with the Georgia Department of Insurance must be filed annually by March 1.  All insurers offering health plans in Georgia should refer to Directive 25-EX-1 for the updated definitions, requirements, and filing instructions.  Click here  to download Directive.

Tony Roehl, Esq. - BAKER HOSTETLER LLP, (404) 256-8419 , troehl@bakerlaw.com