The Florida Office of Insurance Regulation will host its own i
nsurance summit in April, calling it a chance to hear from industry p
rofessionals and regulators, Insurance Commissioner Michael Yaworsky announced this week.
Yaworsky
The agenda for the April 14-15 summit in Tallahassee has not been set, but it will be “built around the need
for forward-thinking solutions in a rapidly evolving industry,” the OIR said in the announcement.
“Crucially, the summit will feature the participation of ins
urance regulators from around the country, offering a national p
erspective on market pressures, solvency, and consumer protection gaps,” the office noted.
Discussions will focus on resiliency, Florida’s building code, artif
icial intelligence (AI) in underwriting, advanced modeling techniques for assessing risk, and the standardization o
f data collection to improve regulatory oversight and market transparency.
The conference will be in the Augustus Turnbull center at Florida Sta
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te University. The office said more information and an agenda will be posted soon.
AIFs can be owned by managing general agents and underwrit
ers, public or private organizations, individuals, the reciprocal itself or
other insurance companies, Cheney’s report explains.
This model allows capital flexibility but can also create risk misalignment between policyholders and investors. Si
nce an RIE is owned by the policyholders, “this ‘walls off'” the investor
s who own the attorney-in-fact, Cheney wrot
e in the report, also noting that third-party investors are increasi
ngly also deriving fee income from the RIE’s distribution source—usually an MGA or MGU.