LMA NEWSLETTER February 28, 2022

Bill Watch

Recap of Week 7 & Preview of Week 8 of Session

With just two weeks remaining in the Florida legislative session, most insurance bills seem back on track.  The log jam broke last week, with the House Commerce Committee passing a series of insurance bills that Senate Committees had previously passed for the most part.  …

Florida Carrier Declared Insolvent

Regulators hustling

A Florida property insurance company has been declared insolvent and taken over by the state; insurance regulators are working with carriers to quantify Florida’s big insurance litigation problem contributing to such closures; and insight into what one industry observer is calling the latest tactic by plaintiff attorneys to get more claims money out …

No Ambiguity in these Policies

Plus, a Surfside condo settlement

Florida’s appellate courts have again sided with insurance companies on whether claim settlement proposals need to include specific offers of attorney fees; and on another question of ambiguity about whether the appraisal process applies to emergency mitigation work.  Plus, there’s been a major settlement in the families’ lawsuit in the …

The Flooding Disconnect

Awareness, planning lacking

A new survey suggests that rising sea levels are not having much of an impact on Miami’s housing market, while another study shows that with greater awareness will come some potentially catastrophic impacts on Florida’s greater housing market and economy.  Plus, a success story on flood mitigation.  It’s all in this week’s …