The bill is only a start – more to be done
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 …
Property Insurance Reform Signed
Story Tag: David Altmaier
Florida’s Property Insurance Reform
Different perspectives
Hurricanes are just one threat to Floridians and the property insurance companies that strive to protect them. Another is costly claims practices pushed by excessive litigation. It’s driving the price of insurance up by double-digits for most everyone. …
Regulators Reject Citizens Rate Cap Request
Rate requests reduced, too
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% …
Trying to Refute the Irrefutable
3 points on Florida’s insurance market woes
Efforts fell flat on their face this past week by those trying to refute the damning data from the National Association of Insurance Commissioners (NAIC) about Florida’s lawsuit factories. It was that NAIC …
Florida’s Insurance Litigation Factories
Consumers lose
Last week’s news from Florida Insurance Commissioner David Altmaier that our state has 8% of all homeowner’s claims in the U.S., yet 76% of all homeowners’ claims lawsuits is bad news for all Floridians. One media outlet, Florida …
Consumer Advocacy Now More Than Ever
Each week I have the privilege of talking to a handful of consumers who find me on the internet and want to share their story about the dire situation they are in because of a contract they signed. Part of …
National Association of Insurance Commissioners: The Cold, Hard Truth about Florida Litigation
Greater clarity came this week from the National Association of Insurance Commissioners (NAIC) via Florida Commissioner David Altmaier: Florida has 8% of all homeowners’ claims in the U.S., yet 76% of all homeowners’ claims lawsuits. Boom.
In a letter to …
Citizens Pushing Higher Rates
Rate hearing considers cap changes, too
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 …
Mega-Storm COVID-19
Dealing with the upcoming hurricane season
The ongoing coronavirus response in Florida has been a massive effort over the past two months. State Division of Emergency Management (DEM) Chief Jared Moskowitz said that this is the biggest logistics mission ever …
Insurance Digest
Downsizing Citizens, NAIC & NCOIL updates
Citizens Property Insurance Corporation is looking for new ways to improve on its continued success in reasonably moving policies to the private market. The state-backed insurer of last resort also reports promising signs that …
