Big assessments are leading to sell-offs
Almost three years after the Surfside Condo Collapse, reverberations can still be felt, now from condominium unit owners across Florida facing huge maintenance and insurance assessments from their condo associations. Following the Surfside tragedy…
New projections on home mitigation
As we saw in the recent South Florida flooding, if it rains, it can flood. Mitigating the damage from the deluge has become a priority for many across the country – including economists at the …
Federal disaster aid for Tallahassee tornados
The recent South Florida deluge generates several thousand automobile insurance claims for flooded vehicles and a data call, Tallahassee gets a federal disaster declaration for last month’s tornados, there’s new money for home mitigation …
New non-competitiveness factor in play
The Citizens Property Insurance Corporation’s Board of Governors last week approved an overall 13.5% increase in rates for next year that includes a 14% increase in its personal lines policies, the maximum allowed under the …
I attended the National Flood Conference earlier this month where almost 2,000 industry professionals continued the conversations from last year and years before about flooding and current key issues of mutual interest and concern. I had the opportunity to address …
Tragedy, while devastating, can help us understand shortcomings in our disaster response and adjust accordingly. That’s exactly what happened in the wake of the tragic Surfside Condo Collapse. When the smoke cleared and the rubble settled, 98 people had …
Plus, the standoff on beach renourishment
The price tag for Tallahassee’s May twisters stands at $50 million and counting, the state eyes a Central Florida warehouse as the site of an emergency hub for disaster supplies and response, and a …
While others push for higher water standards
Florida’s Blue-Green Algae Task Force is questioning its own effectiveness, environmental groups are asking the federal government for stronger water standards in Florida, and community efforts converge to help restore Apalachicola Bay oyster …
Plus, reinsurance pricing & OIR rule changes
Reinsurance pricing at the June 1 renewals was thankfully flat with some decreases, Southwest Florida communities have resubmitted critical data to FEMA hoping to keep their federal flood insurance discounts, Florida insurance regulators …
People’s Trust faced persistent questions
While Florida property insurance rates are trending downward, a few companies are seeking rate increases, especially for those applied in 2023 under the use-and-file rate submission system. One of them, People’s Trust Insurance Company, …