LMA NEWSLETTER October 23, 2023

When Did an Employee Benefit Become an Entitlement?

Recently, I attended an incredible insurance agent roundtable to talk about the market and ideas to make it better.  As I stepped outside my hotel to retrieve my car, I struck up a conversation with one of the hotel’s valet parking team members. I asked casually after my hello’s, “What is your next move from …

Further Insurance Reforms in Doubt

Doing nothing not an option

The Florida Legislature was in Tallahassee over the past two weeks to begin a staggered six-week series of legislative committee meetings in preparation for the start of the 2024 session on January 9.  But it appears further property insurance reform is not going to be on the agenda.  Senate Banking …

Lawmakers Tackle Ongoing Hurricane Recovery

Improvements noted, but more needed

The Florida Legislature is also continuing its work on disaster recovery efforts from last year’s Hurricanes Ian and Nicole and now the recent Hurricane Idalia from August 30.  The House Select Committee on Hurricane Resiliency & Recovery met last Monday to hear a progress report directly from Florida’s emergency management …

90% of Hurricane Ian Claims Now Closed

Another big Cat year in the making, renewed uncertainty for reinsurance pricing

The very latest on Hurricane Idalia and Ian claims, how natural catastrophes are on track to set another record this year, the impact of those natural disasters on both the insurance and reinsurance industry, plus the latest drafts of a nationwide data call …

Private Flood Insurance Rising as Federal Ebbs

Plus, protecting renters from flood risk

Private flood insurance is growing as federal flood insurance declines and could be the future of flood coverage, a Florida state senator refiles a bill requiring flood zone disclosures for renters, and FEMA announces almost $2 billion in available funding for climate resilience nationwide.  It’s all in this week’s …

Florida’s Long-Term Care Challenge

Plus dental health access, new drug testing

A new report shows Florida is near the bottom among state rankings in helping family caregivers struggling with long-term care support for loved ones, a look at what one group is calling the ‘dental health crisis’ plaguing some Floridians, plus a new drug test may render traditional toxicology …

Florida’s Explosive Homeowner Growth

Popularity, home sales, mortgage rates up

Recent surveys have shown that the Sunshine State’s economy seems to be shifting as of early October, with single-family home sales up once again, and Florida hosting 6 of the top 20 fastest growing cities in the country – including Lakeland, Orlando, Tampa, and Miami.  There has also been …

Future of Remote Work Questionable

Covid-era impacts are still being felt across the corporate world, especially concerning remote work and how to phase out the work-from-home surge that occurred alongside the pandemic.  Many companies like Facebook and JP Morgan Chase hired remote workers in droves during Covid, both to offer more flexible work schedules and fill the gaps in employment …