The Florida Office of Insurance Regulation (OIR) approved Condo Owners Reciprocal Exchange to form as a property and casualty reciprocal insurer in Florida. Today’s announcement marks the newest property and casualty insurer approved to operate in Florida following extensive legislative reforms implemented to promote continued market stabilization. As a result of these reforms, Florida is seeing additional opportunities in the market for insurers to sell insurance.

Florida Insurance Commissioner Michael Yaworsky issued a Final Order granting approval to the National Council on Compensation Insurance (NCCI) for a statewide overall workers’ compensation insurance rate decrease of 15.1 percent.

Governor Ron DeSantis and members of the Florida Cabinet approved rules to implement several provisions of the Prescription Drug Reform Act (SB 1550).