Regulation/Legislation

Therese Goldsmith, an attorney who concentrated on white-collar litigation, is Maryland’s new insurance commissioner.

Although Florida’s property insurance bill SB 408 became law May 17 upon the signature of Gov. Rick Scott, not all the provisions became effective that day.

The 2011 Florida legislative session left us a bit more battered and bruised than we had anticipated. PIP reform ended up in a ditch, and a property insurance bill addressing cost drivers was watered down. However, all was not a total loss.

Floridas 2011 legislative session was the most active in the past 30 yearsespecially in the property insurance arena. Bills dealing with sinkhole reform, replacement cost reform, and Citizens Property Insurance Corp. were at the top of the to-do list for lawmakers.

In the months leading up to Floridas 2011 session, residential property insurance and motor vehicle insurance appeared poised to become significant legislative issues. Indeed, they garnered significant discussion. Their fates, however, were widely divergent.

Legislation passed last weekend will allow the formation of captive insurers in Tennessee as of July 1, according to a spokesperson.