LMA NEWSLETTER May 8, 2023

End of a Tough Session

It’s been a tough legislative session.  As many of you know, I do my best to educate legislators about why it makes sense to keep the market as a whole in perspective – from policyholders, to reinsurers, to investors, to insurers, to claims adjusters, to underwriting teams, to contractors, to realtors and beyond.  If you …

Bill Watch

Recap of Week 9: End of 2023 Session

The Florida Legislature ended its 2023 session this past Friday morning with the same efficiency and expediency it displayed throughout the 60-day session.  It’s the first session in several years to end on-time and early in the day at that!  There were 356 bills that passed both …

The Reinsurance End of the Road

Plus, the $2M fine against lawyers

The Florida Legislature failed to provide additional reinsurance help to property insurance companies as private reinsurance firms remain largely standoffish on the Florida market, flood claims are rising from Hurricane Ian, pushback on whether climate change is impacting insurance costs, plus the $2 million regulatory fine against a law …

Ft. Lauderdale Says No to Extra Flood Payments

FEMA releases data on Risk Rating 2.0

Local officials decide against direct payments to households impacted by the historic April Broward County flooding, the National Flood Insurance Program is again pitching a plan for multi-year reauthorization, and while Congress wants more answers about Risk Rating 2.0, FEMA provides a peak behind the curtain with release …

Florida Climate Tops for Retirees, #2 for Business

Plus, tougher condo loan standards

The latest rankings are in and there’s no surprise that Florida is taking the top spot for retirees to move, while the Sunshine State continues to battle it out with Texas for best business climate, plus the growing blacklist of condominium buildings on federal lenders’ list.  It’s all in this …