Sandra Starnes, the Florida Office of Insurance Regulation’s recently retired Director of Property & Casualty Product Review passed away this weekend. Many of you were aware that about a year and a half ago she shared that she was diagnosed with tongue/mouth cancer. She used the Caring Bridge platform to keep us abreast of her …
LMA NEWSLETTER May 22, 2023
Citizens CFO Jennifer Montero: Great Leader in a Tough Market
Cat Fund announces claims capacity
Those property insurance companies that haven’t purchased reinsurance for the upcoming hurricane season have just nine days left in a market that is still described as hard, with some companies struggling to find available, affordable reinsurance needed to maintain their policy counts. The Citizens Property Insurance Board of Governors, in …
Hurricane Ian Victims “Ill-Prepared”
Storm surge, rather than wind caught communities off-guard
An interim report submitted to the Florida Building Commission on May 10 says that Southwest Florida coastal communities impacted by last September’s Hurricane Ian were “ill-prepared” for the storm surge and flooding, despite lessons on wind mitigation learned from Hurricane Charley 18 years earlier. The interim report…
Public Adjuster, Contractor Busted
Plus, new licensing rules
The insurer accountability bill will soon move to the rule-making realm, investigators arrest an unlicensed hurricane contractor and a public adjuster on fraud charges, new rules are now in effect for emergency adjuster licenses, and just how many are driving with lapsed auto insurance? It’s all in this week’s Property Insurance …
The Risk Rating 2.0 Flood Insurance Reality
Big increases for the most risky homes
In our last newsletter we reported that FEMA had just released more data on the National Flood Insurance Program’s (NFIP) Risk Rating 2.0: Equity in Action, its new model for better pricing risk to rate. Since then, several news outlets across Florida have been using the zip …
Presuit Notices Ruled Retroactive
Plus rulings on mold, AOBs, and sabotage
A Florida appellate court confirms that presuit notices do apply retroactively, while another court rules that contractors can’t use a generic price list in place of a bona fide estimate, a South Florida woman wins a multi-million dollar mold suit, and an insurance defense lawyer is sanctioned for …
Medicaid Coverage Ending for Thousands
Plus lawyer ad bans, county health rankings
More than a quarter of a million Floridians have lost Medicaid benefits now that the coronavirus pandemic is over, new restrictions on attorney advertising on healthcare issues, and a new report on how each of Florida’s 67 counties rank in healthcare outcomes. It’s all in this week’s Healthcare …
Enjoy the Journey: Travel Nova Scotia
As a post-legislative session treat, we made the journey to Nova Scotia in Canada. It was a wonderful excursion to give us a taste of the Maritimes and left us wanting to return to see the rest of this beautiful region. Each of the seven main areas of Nova Scotia offer a different feel in …