We read with interest a recent Tampa Bay Times article on the life of a door-to-door salesman. Of particular interest was this line: “The Tampa-St. Petersburg-Clearwater metro area now has the highest concentration of door-to-door sales reps in the nation ̶ a major leap after not cracking the top 10 in 2020.” We shared the …
LMA NEWSLETTER December 5, 2022
Is the Legislature Poised for Meaningful Reform?
Further signs of a deteriorating property insurance market
Although no official proclamation had been issued as of last night, the new Florida Legislature is poised to meet a week from today (December 12) in a week-long special session to address economic relief for Hurricane Ian victims and ongoing problems in our state property insurance market. …
Florida Market ‘Plagued’ by Attorney Fee-Shifting
New study reveals costly consumer consequences
The American Consumer Institute (ACI) has released a new study exposing what it calls “the perverse incentives” driving financial instability in Florida’s homeowner insurance market. It points to the state’s generous fee-shifting policy that has allowed attorneys to collect disproportionate attorney fees in Assignment of Benefit (AOB) lawsuits, encouraging …
Hurricanes Ian & Nicole Latest
Cross-state claims jump from Nicole
This past November 30 marked the official end to the Atlantic Hurricane Season, one that saw 14 named storms and due to Hurricanes Ian and Nichole, made 2022 the third-most expensive hurricane season on record. We remind our readers that December hurricanes are not unheard of, though. Meanwhile, estimated insured …
Early Lessons from Ian’s Damage
By Dr. David O. Prevatt
As we look at Hurricane Ian’s destruction, including the 140 fatalities and 20,000 homes destroyed, it is important to recall these impacts are not produced by the climate crisis but by normally expected extreme natural hazards. Our decades-long decision to live coastally, in low-lying areas and to build structures not …
Florida’s Floody Mess
Who pays?
The big issue we can argue is what we don’t know about Hurricanes Ian and Nicole. How many residents and businesses had flood damage (which is not covered by most homeowners policies) and didn’t have flood insurance? And how many had flood insurance that isn’t going to provide full coverage for their loss? …
Florida Tops U.S. in Auto Insurance Costs
Plus, launch of storm mitigation program
Florida kicks-off its free wind mitigation home inspections and grants program, the cost of automobile insurance in Florida is rising due in part to litigation, as an insurance company wins a major AOB-auto glass appeal, plus the top 10 insurance market conduct actions. It’s all in this week’s Property …
Of the Furry and Friendly
I spend as much time as I can in the mountains of North Carolina, as I feel like they call me to come for a visit! For those of you who are mountain fans, you will understand. In one of the many gift shops in Waynesville NC, I saw this sign at left and it …