LMA NEWSLETTER June 17, 2019

Wicked Smart People!

I love to read about emerging markets where wicked smart people see a need and create a product or service to fill it.  One such up and coming market is the one that fills the protection gap by covering beach erosion, seawalls, docks, and landscaping, things that traditional insurance avoids covering.

Called parametric insurance, this …

Citizens, OIR Announcing AOB Reform-Related Changes

Sore losers resorting to revisionist history & histrionics

With under two weeks now before Florida’s new Assignment of Benefits (AOB) reform law takes effect, Citizens Insurance Corporation is seeing an ever larger number of pending AOB lawsuits, while the bad actors themselves are acting as if automatic rate cuts were promised in exchange for reform …

NFIP Releases Historical Data to Private Market

Plus news from the National Flood Conference & OIR

The past two weeks have seen significant developments in flood insurance.  The National Flood Insurance Program (NFIP) has released long-sought geographic-specific data on its policies and claims going back decades.  Congress has reauthorized the NFIP through September and is making serious progress on a long-term five …

Summer Brings New Concerns to Panhandle

Big work ahead in slow recovery from Hurricane Michael

As summer approaches, tourists are beginning to return to Mexico Beach, ground zero for Hurricane Michael, which struck a little more than eight months ago.  Residents in the Panhandle are now keeping a wary eye out for summer wildfires that officials fear could easily get out …

Hurricane Irma Reimbursements Finally Arriving

South Florida’s 21-month wait ends

While the Panhandle awaits the bulk of promised disaster relief funding for Hurricane Michael recovery, long-awaited Hurricane Irma reimbursement checks are finally being received in South Florida.  The Governor announced the state has sent $78.1 million to Miami-Dade County to reimburse the county for debris removal in the months following …

OSHA Reports on Deadly FIU Bridge Collapse

Numerous lapses among stakeholders cited

A federal report on last year’s collapse of a pedestrian bridge at Florida International University in Miami concludes that a design flaw, undiscovered because of improper review, coupled with a decision to keep the street underneath the bridge open on the day deeper cracks appeared, led to its fatal collapse.  …

Termites Are Swarming!

Resistance is insectile

The warmer weather marks the annual termite swarms across many urban areas of Florida and this year is no exception.  The spread of the much tougher to detect “super termites” – the Formosan and the Asian subterranean termites – continues.  Scientists predict half of the homes and buildings in South Florida are …

Father’s Day with a Smile

For our readers who are fathers, we hope yesterday brought a smile to your face.  In recognition of Father’s Day, and of all the great Dads out there, our appreciation for all the work you do and love you provide cannot be understated.  As most fathers enjoy a good laugh, what better way to show …