Living in this country offers us incredible opportunities, freedoms, and a quality of life that many around the world can only dream of. As Floridians, we enjoy a vibrant, diverse culture, stunning natural landscapes, and a community spirit that binds us together, especially in times of need. Our state has a unique blend of traditions, …
LMA NEWSLETTER August 19, 2024
Hurricane Debby’s Losses May Reach $2 Billion
Many Floridians caught without flood insurance
The latest Florida damage estimates will be released later today but as of last Wednesday, Hurricane Debby’s insured losses had grown to $113.8 million on 15,326 claims for a storm that may total up to $2 billion in insured losses along the eastern seaboard. As anticipated, it was much …
Number of Carriers Grow as Rate Hikes Shrink
Florida’s strengthening property insurance market
Florida’s insurance commissioner releases another positive update on the property insurance market, insurance-linked securities are on pace to set a record, a new bill in Congress would provide tax deductions on homeowners insurance, plus the new permanent rule on Florida premium tax credits. It’s all in this week’s Property Insurance …
The Reality of Social Inflation
Rand quantifies growing litigation awards
We’re all well acquainted with the idea of inflation – each year the prices go up bit by bit and our buying power goes down. Recently, there has been much discussion surrounding what many in the insurance industry have dubbed “social inflation,” which is the same phenomenon applied to the …
Opposing Insurance Appraisers & Appraisals
Plus, a win for a roofing contractor
A federal appellate court rules an insurance company waited too long to object to an appraiser, a state appellate court rules a trial court was too quick to order an appraisal, and a roofing contractor that complained the court was going to give away its trade secrets by …
Florida’s State Constitution: Amendments 1 & 2
As we gear up for election season this November, it’s crucial to understand each of the six proposed state constitutional amendments appearing on Florida’s ballot and their potential impacts. Here and over our next two newsletters, we here at Lisa Miller and Associates will break down each of the amendments, giving you a brief guide …