LMA NEWSLETTER July 10, 2023

Lessons from the Insurance Village

Recently, I attended another Hurricane Ian insurance village where almost 20 insurance companies gathered to offer personal service to those with claims.  I attend as often as I can to work with the media, listen to consumers and lend a hand to the incredible insurance company claims personnel who work tirelessly to bring claims to …

Some Encouraging Signs for Florida Property Insurance Market

“High degree of uncertainty” remains

A new report by regulators shows that the Florida property insurance market in the first quarter of 2023 had net positive income for the first time in seven years with net underwriting losses also encouraging.  However, the gap between the cost of claims and reserves is growing worse.  The report …

The Next Big Litigation Threat

Search engine optimization

Joe Petrelli, co-founder of Demotech, the financial analysis firm that rates many of Florida’s domestic property insurance companies is out with a new warning for the marketplace.  He says national law firms are each spending millions of dollars annually with companies such as Google to steer website search results by insurance consumers …

The “Real Cottage Industry” AOB Lawsuit

Vendor Richie Kidwell center stage

Another big filer of lawsuits against Florida insurance companies has lost a court case that is being called significant in its expected impact on Assignment of Benefits (AOB) cases; it’s the same plaintiff that has had to withdraw the last of his series of lawsuits against the state for its …

Feds Focusing on Climate Insurance Costs

Plus, a definitive ruling on liability lawsuits

There’s another round of updated claims numbers to report from Hurricane Ian, the Florida Supreme Court decides an important statute of limitations on insurance lawsuits, plus the Federal Insurance Office weighs-in on how insurance companies are dealing with climate risk.  It’s all in this week’s Property Insurance News

New Warning on Sea Level Rise

Florida’s resiliency efforts, NFIP reauthorization

Sea level rise could eventually impact one-million Florida buildings by the turn of the next century, how Florida is tackling flood resilience with new legislation, plus a new reauthorization bill for the National Flood Insurance Program includes incentives for the private flood insurance market.  It’s all in this week’s Flood

The Top Risks for Construction & Engineering

Plus giant land snails and a Florida tsunami

News of a strange tsunami that snuck up on Clearwater Beach late last month, the latest risks facing the construction and engineering sectors as construction accelerates, plus another quarantine is in effect for the stucco-eating Giant African Land Snail – oh my!  It’s all in this week’s …

Summertime and the Living is Lazy

Feeling lazy?  Have the “summertime blues?”  Notice that office productivity has (predictably) also slumped this summer?  Well friends, you’re not alone!  And sometimes the most obvious answer – and often heard excuse – is the correct one.  It’s the heat!  And that goes double here in Florida lately.

In her recent article in Quartz, There’s