LMA NEWSLETTER February 24, 2020

Listening & Learning

Last week I had the privilege to present at NV5’s annual spring training event.  NV5 is a forensic engineering and building consulting firm.  The audience was brimming with claims professionals and engineers but the most fascinating was the intelligence, insight and innovative ideas we exchanged.

I listened to their stories of how they spend their …

Bill Watch

Recap of Week 6 & Preview of Week 7 of Session

Just three weeks of the Florida legislative session remain and most of the tort reform bills are either stalled or dead.  The appetite for reform that legislative leaders said they had at the beginning of session has waned.  It’s apparently been overshadowed by E-Verify …

Florida Insurance Market Update

Red ink and high alert

There are more outward signs that Florida insurance regulators are getting more actively involved in trying to resolve current challenges to our property insurance marketplace.  Rising reinsurance costs from claims creep and rampant litigation costs have combined to force many companies to increase their rates and some to cut back …

New FEMA Flood Metric

A push for greater protection

FEMA’s new Flood Insurance Rate Maps that have been premiering in South Florida over the past couple of months have a new feature for some coastal residents.  It’s a special designation that some Florida Keys residents fear will increase their insurance rates and lead to costly renovations.

It’s called a …

Private Flood Model Act

What to tell the consumer?

The effort to export and promote Florida’s progressive private flood insurance regulation to the rest of the country continues.  A Private Flood Insurance Model Act that has been struggling to find consensus will be discussed again during the upcoming Spring Meeting of the National Council of Insurance Legislators (NCOIL) March …

Planning for Broadband & Disaster

Proposed toll roads considering both

Florida’s plan to build three new toll roads to revitalize rural communities and provide more evacuation routes in disasters, could now include broadband projects as well.  There’s also consideration being given to building emergency staging areas on the turnpike system for use in disaster management.

The three new toll roads

Insurance Needs You!

Recruiting difficulty increasing

A new labor study shows that most insurance companies will be hiring in the next 12 months – if they can find the workers to fill the positions.  The Insurance Labor Outlook Study by industry recruiter The Jacobson Group and Aon found 92% of respondents intend to maintain or increase staff in …

Tip of the Hat

As the third most populous state, Florida has its share – and more – of fraud and crime, especially those involving insurance and financial services.  It’s why we owe a debt of gratitude to the men and women who serve as investigators in the Florida Department of Financial Services.  This story is about one of …