LMA NEWSLETTER September 10, 2018

One Word: Trust

Over these last couple of weeks, as Florida watched the primary election unfold and I traveled the state working with various candidates, I kept hearing volunteers and voters talk about whether or not they could trust those running for office.  I reflected on what that meant and it reminded me of what I learned at …

Hurricane Florence is Coming

Keep an eye on the forecast

As Hurricane Florence approaches the U.S. East Coast, insurance interests and the state of Florida are on standby as the storm develops.  The Governor’s Office released this statement yesterday afternoon urging Floridians to get prepared and remain watchful as the storm and its forecast track evolve.   We at Lisa …

A Glimpse at Future Demands for Long-Term Care

Everything you ever wanted to know about Florida

We know the baby boomers are continuing to retire at record numbers, but the AARP is looking farther down the road at those ages 85+, a population that is projected to triple in the next 30 years.  This is a group that will need help with the …

Court Backs Insurer in ‘AOB’ Contract

Plus our take on where we go from here

First the news, reprinted here with permission, from the News Service of Florida:

An appeals court Wednesday rejected a breach-of-contract lawsuit filed against a property insurer in a dispute about “assignment of benefits” in a water-damage claim.  Assignment of benefits has been a highly controversial …

Sentencing in South Florida PIP Fraud Ring

While roofers export their Florida fraud to Connecticut

Like a perverse game of whack-a-mole, when one insurance fraudster is caught another one (or three or four) always seem to pop up, or simply move to another state.  This past week saw the sentencing of two roofers who’d previously cheated almost 100 Tampa Bay area homeowners …

Hurricane Irma One Year Later

Florida still recovering

As we enter the peak six weeks of hurricane season, it was one year ago today that Hurricane Irma made landfall on the Florida Keys.  The Category 4 hurricane caused $23 billion in insured losses  ̶  the sixth highest in U.S. history  ̶  and $55 billion in total economic loss in Florida …

Top 10 Market Conduct Exam Issues

Untimely action on claims is most common mistake

Wolters Kluwer Financial Services is out with its 14th annual report of the Top 10 violations found in a review of last year’s P&C market conduct examinations across the country.  As the saying goes “Learn all you can from the mistakes of others, for you won’t …

Revising Florida’s State Constitution

Amendment 1 would add an additional $25,000 homestead exemption; merry-go-round court battles continue on other amendments

(Editor’s note: This is part of an ongoing series on the now 12 proposed state constitutional amendments that will appear on this November’s ballot for Florida voters to consider.)

The Florida Supreme Court has struck one proposed constitutional amendment …

Florida Ranks #1 in Growth of Women-Owned Businesses

While women CEOs in traditional businesses face troubling disadvantages

Florida women entrepreneurs are getting top billing in a new report with insurance marketing implications that shows they have started their own businesses at a faster pace than women in any other state over the past 11 years.  Nationally, the share of women-owned businesses has grown …

Share Your Home, Share Your Heart

We started this newsletter with an updated data source for you on Florida’s long-term care market and as we were going to press on the newsletter, we have another gem that just came across our desk that will be of special interest to those who work in the workers’ compensation space.  It’s the 2018 Construction