LMA NEWSLETTER February 20, 2023

Valentine’s Day: Reflection

I don’t know about you but I love Valentine’s Day because I get to share a smile with so many and remind them how much I adore them…whether it’s clients, colleagues, college pals, or career stars.  I have so much fun connecting with all sorts of folks and Valentine’s Day is the best reason in …

UPC Insolvent

Reinsurance at the heart of today’s concerns

Another Florida property insurance company is declared insolvent by state regulators, expectations of up to a 50% increase in reinsurance costs for the rest of the market’s carriers at June renewal, concerns that higher premiums will force condo owners out of their homes, and two significant rulings on …

Bill Watch

Significant Tort Reform Announced

Governor DeSantis sent a Valentine’s Day message to the Florida trial bar last week, announcing he wants to pick-up where the December special session on insurance market reforms left off, by eliminating one-way attorney fees in all lines of insurance – not just property insurance.  The next day, Reps. Tommy Gregory …

Future of Florida Insurance Litigation

Looking good!

The December 2022 property insurance market reforms passed by the Florida Legislature are making a big difference already, with fewer and less severe non-hurricane claims and fewer daily lawsuits, according to Stacey Giulianti of Florida Peninsula Insurance Company.  I had the recent pleasure of talking with Stacey, who is a Co-Founder and Chief …

New Florida Insurance Commissioner Forthcoming

Mike Yaworsky Returning to OIR

Governor DeSantis has announced his choice for Florida’s next Insurance Commissioner, nominating Michael Yaworsky to replace David Altmaier, who resigned in late December.  Yaworsky is a familiar face, having served as Altmaier’s Chief of Staff at the Florida Office of Insurance Regulation (OIR) from 2017 to 2022.  He will serve …

Legislature Boosts Hurricane Aid

Up to $2B expected to be needed

The Florida Legislature meeting in special session the week before last agreed to pump hundreds of millions of dollars of extra funding into helping residents and local governments recover from the devastating effects of Hurricanes Ian and Nicole.  As the recovery from the two hurricanes accelerate, so does …

New Questions on High-Rise Re-Inspections

Plus, disaster housing

Much of the immediate need in disaster recovery is in providing human services, especially housing.  That was a focus this past week in a legislative committee examining hurricane response and resilience, following Hurricanes Ian and Nicole.  Plus, some new questions and considerations in Florida’s condominium and high-rise building re-inspection law.  It’s all …

Strawberries R Us!

As we head into this week, many in Plant City, Florida, my hometown in eastern Hillsborough County and the winter strawberry capital of the world, are readying for the Florida Strawberry Festival March 2-12, 2023.  The Strawberry Festival home page says “Each year, the Florida Strawberry Festival® hosts world-famous headline entertainment from all over the …