LMA NEWSLETTER September 14, 2020

Learning from Irma

This past Thursday was the third anniversary of Hurricane Irma’s landfall in Florida.  The Cat 4 storm marked the return of major hurricanes to Florida after more than a decade of quiet.  We received this email from our tireless Insurance Consumer Advocate and her message bears repeating: “I implore you to learn from the preparedness …

Florida Homeowners Market Update

Rate increases sought

Another homeowners property insurance company has filed a double-digit rate increase with Florida regulators while Citizens Insurance has begun tracking contingency fee multiplier litigation, one of the cost drivers behind rates.  Plus a great history lesson about Florida’s market to pass along.  It’s all in this week’s update.

Rate Increase:  First Community …

Florida Bar v. Scot Strems

Trial underway

The disbarment trial of South Florida plaintiff insurance lawyer Scot Strems began last week and resumes this morning.  He’s been under suspension by the Florida Supreme Court since early June, following a filing by The Florida Bar alleging Strems “sits at the head of a vast campaign of unprofessional, unethical, and fraudulent conduct …

Life Insurance Claim Settlements

Some companies still fighting

Four life insurance companies have decided to take their objections all the way to the Florida Supreme Court over a state law that requires them to search their records back to 1992 to determine if any policyholders have passed away and failed to receive death benefit payouts.

United Insurance Company of …

COVID Comp Claims Rejected

Workers’ Comp rates declining again

As the number of coronavirus cases has grown in Florida, so too has the number of workers’ compensation insurance claims from those who say they’ve been infected.  A new report shows that nearly 12,000 COVID-19 related claims – more than one of every four workers’ comp claims – have been …

Vaping Age Remains 18

Fewer underage vapors reported

Governor DeSantis last week vetoed a bill that would have classified e-cigarettes and other vaping products as “tobacco products” and raised the age to purchase those tobacco products, including traditional cigarettes, from 18 to 21.  Meanwhile, a new study shows vaping has dropped 29% among high-schoolers and 55% among middle-schoolers in …

Revising Florida’s State Constitution

Amendments 1 & 2: Citizenship & Minimum Wage

(Editor’s note: This is the first of a three-part series on the six proposed state constitutional amendments that will appear on the November 3 ballot for Florida voters to consider.)

Amendment 1 is titled “Citizenship Requirement to Vote in Florida Elections” and proposes to change two words …

A Florida Retirement

If you live in Orlando, Tampa, Miami, or Ft. Lauderdale and you’re looking to retire in the US’s best places to retire – you’re already there.  WalletHub has published a new report which analyzed how friendly the 150 most-populated U.S. cities and at least two of the most-populated cities in each state were for retirees …