I turned 60 this year. I recall my younger days when I would ride my bike for 30 miles and never break a sweat. And oh how my knees were like well-oiled hinges. As I have aged, I can tell a slight difference, although I often use a phrase in my head that says, “Power …
LMA NEWSLETTER August 17, 2020
Florida Homeowners Market Update
Dark clouds on financial filings
The second quarter financials from insurance companies doing business in Florida were due this past Friday to the Florida Office of Insurance Regulation (OIR) and we are awaiting a cumulative report on underwriting gains/losses. The first quarter saw $2.5 billion in total homeowners insurance rate increases. At least 8 carriers …
Florida Bar v. Scot Strems
Bar files response
The Florida Bar has filed its response with the state Supreme Court on why the referee’s recommendation upholding plaintiff insurance attorney Scot Strems’ suspension should be approved. It also specifically responds to Strems’ filed arguments why it shouldn’t be approved. Meanwhile, the trial is scheduled for September 8.
In its response, …
Coronavirus & the Florida Market
Conflict over future BI policy wording
There are new developments to report on the Business Interruption (BI) insurance front – some positive and some discouraging for insurance interests – as well as efforts to protect businesses from being unduly sued by customers for coronavirus exposure.
A Washington D.C. court has ruled against several restaurants who …
Survey: Wide Misconceptions of Flood Risk & Cost
Upcoming conference, NCOIL update
Hurricane Isaias two weeks ago caused significant flooding in Pennsylvania and with it, stories of homeowners caught off-guard and without flood insurance to cover the damage. A new national survey shows residents significantly underestimate their exposure to flooding and believe flood insurance is expensive and thus can do without it. We’ll …
Court Strikes Hefty Fines on Vacation Rentals
Miami Beach scaling back fines
We have been closely watching the debate about short term vacation rentals through the various platforms that allow citizens to lease their homes in what we all know as the “shared economy.” Often in state legislative hearings, local elected officials will plead with legislators to allow them flexibility under what …
How’s Local Government Spending Your Money?
New website provides answers, rankings
Florida state and local governments collect and have access to a treasure-trove of information. And here at LMA, we believe that good data begets good policy when properly and skillfully applied (which is our specialty!) So we’re happy to share a new project and website for Floridians created by outgoing …
Healthy Living, COVID-Style
COVID-19 has, unfortunately, created challenges to healthy living amongst Americans, especially for older adults. Whether its dieting, exercise, or mental health, the pandemic has posed new roadblocks for those who wish to keep up a healthy and fulfilling lifestyle. Here’s the research and tips to help you.
According to a recent Healthy Living survey conducted …