• RECAP: Florida Chamber's 14th Annual Insurance Summit

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    November 07, 2020
             
           
    FloridaChamberofCommerce
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     2020 Florida Chamber Virtual Insurance Summit RECAP:
    40 Speakers and Key Takeaways

     

    That’s a wrap on the Florida Chamber’s 14th Annual Insurance Summit! This two-day virtual event was filled with fantastic speakers who shared valuable insight into Florida’s future, the key industry-impacting trends, political changes, and so much more. We hope all those who attended enjoyed hearing from industry experts across Florida.

     Key takeaways:
     
    • Florida CFO Jimmy Patronis discussed continued work with Florida’s Office of Insurance Regulation the Department of Financial Services and with the Florida Chamber to ensure Florida’s families and businesses are taken care of to keep Florida moving forward by passing COVID-19 liability protections and keeping in mind three guiding principles: Businesses should do right by customers and employees, be consistent and be fair, and justice should come first.
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    • A legislative panel consisting of Sen. Kathleen PassidomoSen. Danny BurgessRep. Ben Diamond, and Rep. Tom Leek, and moderated by the Florida Chamber’s Frank Walker provided an outlook to what the 2021 legislative session might look like with health and safety precautions, committee agendas, legal reform, and other issues that need to be addressed based on the impacts COVID-19 has had on employers.
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    • Florida Justice Reform Institute’s William Large and Pinnacle’s Roosevelt Mosley addressed the continued abuse of auto glass AOBs and announced a new report released by FJRI.
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    • Dr. Jerry Parrish of the Florida Chamber and French Brown of Dean Mead discussed potential impacts on Florida’s budget as we head into the next legislative session, and the insurance industry’s positive impact on financial services jobs.
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    • The Florida Chamber of Commerce Political Team provided an in-depth analysis of the 2020 Election results and the 97% of Florida Chamber-backed pro-jobs candidates who won their races.
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    • Florida Chamber’s David Hart and Chamber Board Member and former Speaker of the House Will Weatherford of Weatherford Capital dove into existing insurance issues, including PIP and tort reform, and how “you can’t get the policy right if you don’t get the politics right.”
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    • A panel moderated by Kyle Ulrich of FAIA and comprised of Sen. Jeff Brandes and Citizens CEO Barry Gilway discussed how Florida insurance companies are now facing their fourth year of unprofitability and expressed the need for the legislature to act as it did with AOB reforms, such as extending the attorney fee schedule in AOB to first party litigation.
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    • Dr. Jack Nicholson of Florida State University, John Seo of Fermat Capital, Justin O’Keefe of RenaissanceRe, and John Huff of Association of Bermuda Insurers and Reinsurers touched on the need for an adjustment of claims handling in Florida and how it has driven up costs in reinsurance and insurance.
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    • During a panel moderated by Michael Carlson of Personal Insurance Federation of Florida, Gina Wilson and Anne Bert of the Florida Hurricane Catastrophe Fund provided an update on the health of the CAT Fund, questions that should be asked on any legislation impacting the CAT Fund, and what is on the minds of investors and rating agencies.
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    • Moderated by Karl Rasmussen of Meenan, P.A., a panel consisting of Scott Johnson with Johnson Strategies, Kevin Comerer with American Integrity Insurance Company and Christine Ashburn with Citizens Property Insurance discussed the abuse being seen from loss consultants, the need for narrowing the statute of limitations to file a catastrophe claim in Florida, and also shared seven takeaways from the Scot Strems disbarment.
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    • Carolyn Johnson with the Florida Chamber, William Large with Florida Justice Reform Institute, David Langham with the Office of Judges of Compensation Claims, Mark Freidlander with Insurance Information Institute and Erin Collins with National Association of Mutual Insurance Companies spoke about the impact of workers compensation claims due to COVID-19, how business interruption insurance does not apply in the COVID-19 pandemic, and why liability protections are necessary to reopen Florida’s economy.
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    • Moderated by Joy Ryan of Meenan, P.A., Insurance Commissioner David Altmaier and Deputy Insurance Commissioner Susanne Murphy of Florida Office of Insurance Regulation discussed the use of emergency data calls with respect to solvency issues and consumer service for regulatory perspective, COVID-19 liability issues, and so much more on the topic of insurance regulation.
     

    On behalf of the Florida Chamber’s Board of Directors and our entire Florida Chamber team, we thank all of those who attended the Florida Chamber’s Annual Insurance Summit. Together, we are uniting business for good and securing Florida’s future.