Insurance Commissioner Kevin McCarty

Nick Evans

The Florida Cabinet interviews four candidates Tuesday to head up the state’s office of insurance regulation.  The governor and CFO are in a standoff.

Stacy Young

When it comes to flood insurance in Florida most people agree on one thing – there’s not enough information.

Just ask Lori Medders, director of the catastrophic storm risk management center at Florida State University.

Eric Snyder via Flickr

Florida’s small businesses should see their workers’ compensation rates drop at the beginning of next year. State Insurance Commissioner Kevin McCarty has ordered an average premium reduction of 5.2 percent. That’s a deeper cut than the 2.5 percent insurers originally requested.

Taylor Gibson manages the Tallahassee branch of Two Men and a Truck moving company. He says the cuts will take a burden off businesses.

Florida’s Insurance Commissioner Kevin McCarty has been tasked with figuring out how to make Florida more attractive to other insurers. Florida’s largest property insurer, state-backed Citizens Property insurance, was intended to be the “insurer of last resort.”

But, lawmakers have been trying for years to come up with ways to shrink the size of the company, including Republican Senator David Simmons, the new chair of the Senate Banking and Insurance Committee.

As Florida mops up the remains of Tropical Storm Debby, the state’s chief insurance officer says the state can take an even bigger wallop should more storms come. We hear how Florida’s insurance market is still trying to rebound after hurricane Andrew and proposals to raise rates for the state-run Citizens Property Insurance. Jessica Palombo helps to set up the discussion about the state’s insurance market with a report looking at whether Citizens should raise rates.

Host: Trimmel Gomes
Guest: Florida Insurance Commissioner Kevin McCarty