Florida is reopening, as are other states, so take a minute to ride around your town. Note how many of those sitting under outdoor restaurant canopies or in the grocery parking lot have on masks. Please let us know what you see. It has been our experience here in the Panhandle that 50% of the …
LMA NEWSLETTER May 11, 2020
Coronavirus & the Florida Market
Data Call Coming
As we enter the second week of the partial business re-opening of Florida, virus-related insurance claims are being filed, insurance companies are fighting back in court, and the industry is making dire predictions on its future. A national data call has just been launched to find answers across insurance lines about claims …
Business Interruption Challenges
Answers and Advice
While some businesses have filed business interruption (BI) insurance claims and lawsuits, Congress and a few individual states are trying to craft a variety of broader solutions. I recently talked with two experts – one an insurance attorney and consultant and the other a 30-year independent adjuster – for answers and advice …
Panhandle Wildfires
Red Flag Days Ahead
The unusually warm and dry spring is creating hazardous wildfire conditions across parts of Florida. Last week was especially bad in the Florida Panhandle where two separate fires destroyed dozens of homes over three days, threatened others, and closed a section of Interstate 10 east of Pensacola.
The larger of the …
Hurricane Season Updates
Flood Model Act progressing
With the start of the Atlantic Hurricane season a little more than two weeks away on June 1, we have some updates to share on storm season forecasts, new insurance catastrophe reporting forms, and the good progress being made toward developing a national model private flood insurance law by this summer.…
Flood Monitoring Slipping
NFIP-compliance questioned
For years, FEMA’s National Flood Insurance Program (NFIP) has been asking Congress for more resources, not the least of which, for help handling the back-to-back-to-back big disaster years of 2017 through 2019. So it’s no surprise to hear that FEMA is not meeting its own requirements in monitoring high-risk communities across the country …
Property Devaluation from Flooding
Risk & costs on the rise
A new study identifies nine counties in Florida facing the greatest risk of property devaluation from flooding in a worse-case projection through the year 2050. Damage from a 100-year storm surge event in Florida could increase from $35 billion today to $50 billion in 2030 and $75 billion in …
Remote Work Sticking
The sun is shining, the birds are chirping, and businesses are reopening. After taking some time to preserve ourselves and adapt to life amongst COVID-19, we have finally reached a seemingly comfortable and effective compromise.
Remote working has not left us yet, as some businesses have decided now to incorporate the practice into their reopening, …