Legislative Session Coming in for a Landing

Happy Monday!  There’s only one more week to go in the 2023 Session!  Budget negotiations are continuing with only a few major issues outstanding.  We are anticipating the budget to wrap-up today in time for the 72 hour cooling off period before a vote can be held on the budget.  The House has approved a …

Bill Watch

Recap of Week 8 & Preview of Week 9 of Session

There is still more work to be done this last week of the Florida legislative session on two key remaining insurance measures – the Consumer Protections bill and the Insurer Accountability bill (see below).  The former involves tweaking of language and the degree of …

Reinsurance Uncertainty Taking a Toll

Another carrier stops writing new business

Another Florida property insurance company has joined more than a dozen others in the last year who placed moratoriums on writing new business or left the state altogether.  People’s Trust Insurance told insurance agencies last week that it would no longer write new policies.  The reason: a lack of …

Lawsuit Glut Adding to Market Instability

Plus, the field adjusters’ hubbub

The deluge of lawsuits filed just before the elimination of one-way attorney fees is predicted to be a new threat to Florida’s property insurance market, how to put the field adjusters’ reports controversy into perspective, plus the ever-growing increase in automobile insurance rates.  It’s all in this week’s Property Insurance

Federal Disaster Aid Approved for Broward Flooding

Local officials consider another $5,000 per household

Federal disaster money is on the way to help Broward County’s recent record flooding with a potential local supplement now being discussed as well, new money is released to help stormwater and wastewater systems damaged in last fall’s hurricanes, plus proof that cars can fly in tornadoes and …