The president of Citizens Property Insurance Corporation, the state-created and taxpayer backed insurer of last resort said Florida’s private domestic insurance companies are losing about 25% to 35% of their surplus each year from underwriting …
The infamous Scot Strems and his Strems Law Firm along with co-defendants Contender Claims Consultants and All Insurance Restoration Services have agreed to a $1 million settlement with Citizens Property Insurance to settle a massive fraud …
Many policyholders from insolvent insurance companies and from the dozen other carriers who’ve simply stopped or reduced their writing in Florida are ending up at Citizens Property Insurance Corporation, the state-created and taxpayer-backed “insurer of last resort.” …
Pending any legislative action that would help depopulate its burgeoning 750,000 policy count, the Citizens Property Insurance Corporation’s Board of Governors on December 15 approved the maximum rate increase currently allowed by law: 11% for the …
A few hours before that Senate Banking and Insurance Committee meeting, one of the two recipients of private admitted market policies was having a meeting of its own. The Citizens Property Insurance Corporation Board of Governors was getting …
Leadership of Citizens Property Insurance Corporation, the state’s insurer of last resort, are expressing concerns that the Surfside Tower collapse could have a series of negative consequences on the Florida marketplace and lead to an unwelcome repopulation …
In the wake of property insurance reform, Florida carriers are becoming more proactive in their communication with policyholders, in an effort to reduce costly litigation. The idea is not just to better educate consumers about their …
The big news of the week, of course, is Florida’s new property insurance reform signed into law, effective July 1. SB 76 was signed by Governor DeSantis this past …
Citizens Property Insurance Corporation, Florida’s insurer of last resort, lost out last week on its attempt with regulators to apply actuarially-sound rates to its new customers, while allowing existing policyholders to continue enjoying a legislatively-set 10% …
The Florida Office of Insurance Regulation (OIR) last week held a rate hearing for the state-backed Citizens Property Insurance Corporation to consider the carrier’s requested rate increase, which includes a proposal to eliminate the …
