LMA NEWSLETTER July 11, 2022

Cleaning Out File Drawers…Remembering the Good Times

I gain so much joy working with the younger generation and this past week, I decided to share my office with a young man whose Dad I have known over 40 years.  To make room for the son’s things, I needed to go through file drawers and shelves of over 10 years of files, photos, …

Property Insurance Market Contraction Continues

High reinsurance rates cited

More insurance companies are restricting their policywriting in Florida following reinsurance rate hikes as high as 50%, coupled with a 12% increase in the Florida Cat Fund premium.  Meanwhile, ratings agency Demotech is still reviewing the rest of the Florida domestic carriers on its list for ongoing financial stability.  It’s all …

AOB Ruling a Win for Consumers

Instructive for defense counsel

LMA had the privilege of hosting Jake Huxtable, a partner at Kelley Kronenberg’s West Palm Beach office, who was the successful litigator in a recent appellate decision involving Assignment of Benefits (AOB) contracts under the Florida Legislature’s 2019 AOB reform.  Jake addressed a webinar audience that included dozens of agents …

Tampa Staged Accidents Worth a Cool Million

72 year-old ring leader arrested

The owner of a Tampa medical clinic has been arrested for allegedly planning and participating in staged car accidents and then submitting more than $970,000 in claims for fake injuries to Nationwide Insurance.

The Department of Financial Services says 72 year-old Angela Ippolito Duncan, owner and operator of Ybor Medical …

Majority of Gulf Coast Roofs Hurricane Vulnerable

Solar panels, skylights add risk

If this hurricane season, already predicted to be above average, churns out greater than Category 3 storms, there’s a whole lot of roofs that will suffer damage around the Gulf Coast.  Property analytics firm Arturo just finished analyzing 17.3 million homes across the southeast United States, from Texas to South …

Contaminants Found in Florida Oysters

Major bays impacted

Scientists at Florida International University’s Institute of Environment reported last week that every single oyster they checked in Miami’s Biscayne Bay, Tampa Bay, and around Marco Island off the Southwest Florida coast had contaminants known to pose serious health risks to people and wildlife. 

The contaminants are perfluoroalkyl and polyfluoroalkyl (PFAS) and …

Florida the Most Desired Moving Destination

State revenue, surplus flush – housing costs high

Florida continues to outdo itself, with revenue collections beating projections, a record state budget surplus, and unemployment returning to low pre-pandemic levels.  It’s no wonder that the Sunshine State was the top place searched by out-of-staters looking to move, but it’s also contributing to exploding housing costs, …

Giant Snails!

Giant snails that can grow as large as rats have put a Florida town into an unusual quarantine.  The invasive creatures carry a parasite that causes meningitis in humans and health officials are taking no chances on letting them spread beyond town limits.

In Florida, these Giant African Land Snails can grow up to eight …