LMA NEWSLETTER May 19, 2025

Forewarned is Forearmed

With the official start of hurricane season less than two weeks away, we have news this edition on an alarming trend in the condominium association community, how insurance regulators and carriers are preparing for the season, FEMA’s shift in emphasis and funding, the health of the state catastrophe fund, and updated home mitigation discounts.  The …

Could Florida Condos Be Less Than Fully Insured?

Plus, the latest changes in mitigation discounts

There are new concerns that recent legislation my leave Florida condominium buildings underinsured, more changes are in the works to homeowners insurance mitigation discounts, plus the state catastrophe fund releases new numbers on past claims and future coverage.  It’s all in this week’s Property Insurance News.

Condo

High-Rise Condo Evacuated Despite Previously Clean Bill of Health

While Florida’s overall infrastructure earns a “C”

A Clearwater high-rise condominium is evacuated for feared structural issues, Florida gets its infrastructure report card, and researchers discover seaweed masses heading to Florida beaches that could dwarf the mess of 2022.  It’s all in this week’s Environmental and Engineering Digest.

Sand Key Condo Evacuation: Residents of a …

FEMA to Shift Emphasis & Funding

New interim director provides some detail

FEMA has been under heavy scrutiny from the current administration over the last few months, with many wondering if the agency will be eliminated altogether or simply reposition itself within the disaster recovery and emergency management landscape.  Answers recently came from FEMA’s new acting chief, David Richardson, who stated

Stressing Over Hurricane Season? Don’t Be!

Florida regulators making sure it’s covered

The official Atlantic Hurricane Season is less than two weeks away (June 1) and we thought we’d share the lengthy process that Florida insurance regulators have been going through to get ready – and make sure that our insurance companies are ready, too.  The Florida Office of Insurance Regulation …

FEMA’s Ongoing Helene Recovery Mission

Tropical Storm Helene brought many things up through the Appalachian Mountains and Eastern Tennessee in late September of 2024: historic rainfall, terrible floods, significantly damaged infrastructure and a wake-up call for many counties completely ill-equipped to handle flooding at this scale.  Homes and towns were lost underwater as the nearby rivers and dams overflowed and …