Most of you know I grew up in eastern Hillsborough County’s Plant City, the Winter Strawberry Capitol of the World. I even competed in the Florida Strawberry Festival’s Little Miss Strawberry Queen pageant with so many of my lifelong Plant City pals. This year’s Strawberry Festival concluded last week and if you have not been, …
This past week saw an offensive by opponents to two bills that together, seek to cure the most serious ailments and abuses in Florida’s homeowners property insurance market. Look for more fireworks at tomorrow’s House Insurance & Banking Subcommittee meeting and Thursday’s Senate Rules …
The Florida Office of Insurance Regulation (OIR) last week held a rate hearing for the state-backed Citizens Property Insurance Corporation to consider the carrier’s requested rate increase, which includes a proposal to eliminate the statutorily-mandated 10% “glide-path” rate hike cap on new customers. Citizens seeks an overall statewide rate …
With the news that FEMA is delaying the premier of its new flood insurance rates from April 1 to October 1 – and phasing them in – comes new details on exactly how its Risk Rating 2.0 program will work, to bring more actuarially-sound rates to the …
There’s welcome news this week that will help the insurance industry bring better analytics to bear on flooding and other catastrophic risks. Catastrophe modeling firm AIR Worldwide has announced it is making its Catastrophe Exposure Data Exchange (CEDETM) database schema available as an open standard. This …
So once we’re using the best data and analytics, more accurate insurance pricing based on better risk assessment should result. But how do we close the persistent disaster protection gap and help individuals and communities get sufficient insurance coverage? One approach is community-based catastrophe insurance (CBCI). Guy Carpenter, Marsh …
With nearly a quarter of Florida’s population aged 65 and older, long term care is a recurring topic in health and insurance forums we participate in. Companies offering Long Term Care Insurance are constantly tackling challenges related to the rising cost of nursing homes, especially as we live longer …
Florida’s unique ecology is just one facet of what makes our state an amazing place to live as well as a wonderful destination for tourists. Preserving Florida’s environment is therefore key to preserving the natural wealth of the region, and that means a healthy dynamic must be maintained within ecological hierarchy. There’s a new threat …
