LMA NEWSLETTER January 15, 2024

Bill Watch

Recap of Week 1 & Preview of Week 2 of Session

Last week concluded the first week of the 2024 nine week regular session of the Florida Legislature.  Last Monday, I had the pleasure of talking to about a dozen legislators about what they see as solutions to reducing the sticker shock faced by Floridians …

The Strongest January Tornado in Florida History

Recovery efforts ongoing in Bay County

A series of tornados ripped through Florida Monday night into Tuesday morning of last week causing extensive property damage and killing four people across the Southeastern US.  The panhandle of Florida was struck especially badly, with wind and tornado damage severe enough for Governor DeSantis to declare a state …

Another Insurance Company Begins Policy Nonrenewals

Plus, rising auto rates

Another property insurance company reduces its policy count in Florida due to challenging market conditions, Florida drivers now pay the most in the nation for auto insurance, Citizens responds to the dubious US Senate Banking Committee’s letter, plus a former FEMA administrator takes on a new job to better coordinate public-private …

Federal Reinsurance Fund Proposed

Includes ending federal flood insurance

Although we are seeing a leveling off of reinsurance costs as of the January 2024 renewals, Congress has initiated legislation to stem reinsurance prices.  A bill introduced in Congress last week would establish a federal catastrophe property loss reinsurance program for insurance companies offering residential and commercial all-perils policies. 

The …

A New Healthcare Focus for Florida

Plus, FDA approves cheaper Canadian prescriptions

The Florida Senate is poised to pass a sweeping health care plan to ready the state for its medical future, the FDA allows Florida to import cheaper prescription drugs from Canada, and the Sunshine State drops again to 31st in national health rankings.  It’s all in this week’s …