You’ve likely read that insurance company ratings agency Demotech last Thursday sent letters to several Florida-based homeowners insurance companies to inform of a potential downgrade of their “A” (Exceptional) Financial Stability Rating. The recent Demotech actions, while surprising with the …
While the two bills signed into law from the Florida Legislature’s recent special session had many positives (read the final Special Session Bill Watch), more comprehensive measures were needed to address the root cause of our …
Just prior to this special session week, the Restoration Association of Florida (RAF) filed a lawsuit against Insurance Commissioner David Altmaier and two insurance companies over policy form changes that it says unjustly deny homeowners the right …
There are generally three ways to create or change public policy: legislate, regulate, or adjudicate. What Florida lawmakers failed to legislate this past session in property insurance, the Florida Office of Insurance Regulation (OIR) …
A Florida property insurance company has been declared insolvent and taken over by the state; insurance regulators are working with carriers to quantify Florida’s big insurance litigation problem contributing to such closures; and insight into what one industry …
In another ominous sign that the consumer insurance protections in last year’s SB 76 aren’t enough, insurance litigation is back on the rise in a big way. CaseGlide reports that the 17 largest property & casualty insurance …
The need for further legislative reforms in Florida’s property insurance market was on full display this past Friday at a public rate hearing where three companies proposed rate increases from 26% to 111%. All three companies’ …
The Florida Office of Insurance Regulation (OIR) has approved an average statewide rate increase of 6.6% for existing health insurance plans for individuals on the federal exchange for 2022. Insurance Commissioner David Altmaier warns that the individual market …
The Florida Senate’s Banking and Insurance Committee reconvened the week before last to hear that the state’s property insurance marketplace remains in “dire” shape, with some companies losing more money than last year, prompting regulators to …
The Florida Legislature today begins the first of six staggered weeks of legislative committee meetings leading to the start of the formal session on January 11. The House has healthcare and pandemic-related meetings beginning this morning, with …
