The Florida Office of Insurance Regulation's proposal to eliminate insurers' ability to critique and challenge their state conduct exams, before results are made public, has drawn criticism from the insurance industry.

Under the proposed regulatory change, the state would repeal the "informal conferences" rule allowing insurers to request an informal conference in the wake of a market conduct exam, but prior to the public release of the results, to raise concerns and request a formal hearing if those concerns are not assuaged.

The procedure set by the current rule "has well served both the OIR and the companies it regulates for nearly 14 years," argued Liz Reynolds, Southeast state affairs manager for the National Association of Mutual Insurance Companies. "Nothing in the law or in practical application of the rule has emerged or changed to warrant its repeal."