LMA NEWSLETTER March 27, 2023

The Bee Sting

Here’s hoping you had a fabulous spring weekend and are ready to jump in this week.  The trending bill among our readers is the tort reform bill, House Bill 837 (see details in Bill Watch) that was signed by the Governor this past Friday morning.  Several defense firms were notified by plaintiff firms that …

Bill Watch

Tort reform passes as certain lawyers rush to file lawsuits

Governor DeSantis this past Friday morning signed into law a tort reform bill passed the night before by the legislature designed to reverse Florida’s out of control litigation environment.  The Governor acted quickly within an hour of receiving the bill, to stem a mass filing …

More Policy Cancellations, Rate Increases Ahead

Rising reinsurance costs a factor

Allstate’s Castle Key subsidiary is asking for a 53.5% rate increase after shedding 33,000 condo policies, another Florida insurance company goes into a policy runoff while another calls it quits altogether, plus how the high cost of reinsurance is impacting condo premiums.  It’s all in this week’s Property Insurance News

Another Mismanaged HOA

Plus, roof fraud & an Ian chop shop

A second South Florida homeowners association is under receivership for alleged financial mismanagement and fraud, a West-Central Florida roofing scheme may involve hundreds of victims, and another victimization of Hurricane Ian survivors, this one involving an alleged stolen car chop shop.  It’s all in this week’s look …

Affordable Housing Plan Heads to the Governor

While Miami pursues “co-living” units

One of Florida Senate President Kathleen Passidomo’s priority bills to make housing more affordable for working Floridians is on its way to Governor DeSantis for his expected signature.  The “Live Local Act,” SB 102 by freshman Senator Alexis Calatayud (R-Miami) had already passed the Senate unanimously and this past Friday, …