Happy New Year! Today starts several committee meetings kicking off the 2025 Florida legislative session season. Committee weeks will occur through the end of February and session starts March 4 for 60 days. So far, there are no insurance bills of significance, perhaps with legislators respecting Florida Insurance Commissioner Mike Yaworsky’s recent commentary asking the …
Lawsuits against property insurance companies writing Florida polices fell 23% in 2024 from the year prior, the lowest since 2018, as some companies have filed for rate decreases in the aftermath of the 2019-2023 insurance reforms. That’s the finding of the Florida Office of Insurance Regulation’s (OIR) latest Property Insurance …
Recent rulings by Florida’s appellate courts have dealt a significant blow to contractors and organizations attempting to circumvent the state’s 2019 Assignment of Benefits (AOB) reform law, marking a win for insurance companies. The 5th District Court of Appeals (DCA) recently upheld a Marion County ruling against Holding Insurance Companies …
Months after Hurricanes Helene and Milton, the impact of the storms is still being felt all across Florida. A recent analysis from Munich Re found that Hurricane Milton caused the largest insured losses from any natural disaster in 2024 at $25 billion, while Helene caused the largest amount of overall …
One of the issues the Florida Legislature will take up in its upcoming March 4 session is what to do about condominiums. Specifically, whether to adjust its previously approved law requiring building inspections and reserve studies in order to ensure proper property maintenance and repair. The high cost of compliance with the …
One of the elements credited in the evolving success of Florida’s recent property insurance reforms is data collection and reporting. Property insurance companies are required to provide regulators with specific data on litigated claims. The number of lawsuits decreased significantly in 2024 as a result and with it, upward pressure on …
