LMA NEWSLETTER May 28, 2024

Let’s Be Good Pals This Summer

Many of our regular readers have gotten to know my passion for continuing to build a bridge between the heroes in the emergency management field and their counterparts in the property insurance industry.  I was pleased to see that this month, the Florida Division of Emergency Management’s (DEM) FloridaDisaster.org website published planning and preparation toolkits …

Highest-Ever Number of Storms Predicted this Hurricane Season

New cone and flood maps ready

The National Oceanic and Atmospheric Administration (NOAA) has released its annual May outlook for the 2024 Atlanta hurricane season and it’s a doozy.  NOAA is predicting anywhere from 17-25 named storms, with eight to 13 becoming hurricanes, and four to seven of them being major hurricanes of Category 3 …

Market Impacts of a Busy Hurricane Season

How to lower reinsurance costs  xx

So what impacts will an above normal Atlantic hurricane season have on Florida’s recovering property insurance market?  Will homeowners insurance rates go up?  Will reinsurance prices at this week’s June 1 renewal rise?  What can be done to ease premiums?  And how can homeowners be proactive in protecting their …

Property Insurance Rates Trending Downward

AOB vendor defender files for bankruptcy  xx

Florida property insurance rate filings show a downward trend for the first time in years, despite another insurance company seeking a rate increase; Citizens Property Insurance pursues a record reinsurance purchase for hurricane season; plus a bankruptcy filing for a well-known insurance industry adversary.  It’s all in this …

Tallahassee Tornados Cleanup Continues

55 homes destroyed, 640 damaged

In the latest news about Tallahassee’s recent triple tornado spree, Leon County has opened applications for their $1 million microgrant for storm recovery, as some still wait in shelters with no power, weeks after the disaster.  Around 142,000 North Florida residents lost power as the twisters and related high winds …

‘Data Gaps’ Noted on Flood Insurance Coverage

New federal report raises serious questions

Regular readers of this newsletter know that I’m a big proponent of flood insurance, whether federal or private, especially in a state like Florida, where “if it can rain, it can flood.”  I served as an advisor on passage of Florida’s two key laws (SB 1094 and SB

New Clues in Spinning Fish Deaths

Plus, citrus’ hard season

New findings surrounding the death circles of spinning fish in the Florida Keys point towards seafloor algae, Florida invests billions to support biodiversity and water quality, and the citrus industry continues to feel the strain post-Hurricane Ian.  It’s all in this week’s Environmental and Engineering Digest.

Death Circles in the