Even with the Governor’s expected signature on property insurance reform, the bill’s effects will take 12-24 months to make their way through carriers’ books of business. In the meantime, some companies are reducing their Florida business …
One doesn’t have to be an accountant to understand that red means danger and in this Florida Domestic Property Insurers Summary of 2020 Year-End Financial Results it means a financially dangerous trend. Net Underwriting Losses by …
Another person who really knows about Florida’s property insurance market is Joe Petrelli. He’s President and Co-Founder of Demotech, a financial analysis and actuarial services firm that rates 42 insurance carriers that focus on Florida’s …
Over the past couple weeks I led virtual presentations ranging from the current use of Assignment of Benefits documents (yes they are still being used with a twist or two) to the importance of real estate agents and insurance agents …
Once again we saw another major hurricane pass by Florida last week and our hearts go out to our neighbors in Louisiana suffering from Hurricane Laura’s destruction. Our time may be coming though, as Colorado State University has put Florida’s …
The second quarter financials from insurance companies doing business in Florida were due this past Friday to the Florida Office of Insurance Regulation (OIR) and we are awaiting a cumulative report on underwriting gains/losses. The …
Ask any insurance agent and they will tell you “I’m worried.” Why are they worried? For starters, property insurance companies have no choice but to shrink their footprint and raise their rates. Some ask why? To which I …
The past two weeks have not been good for Florida’s homeowners insurance market – with some calling it “the beginning of the meltdown.” It’s essentially a growing culmination of four factors we’ve outlined in the pages …
The other shoe dropped this past week on Florida’s property insurance market. Following marked declines in net underwriting and net income loss, ratings firm Demotech revealed that more than a dozen Florida insurance companies …
Property insurance companies that do most of their business in Florida are taking care of business when it comes to handling Hurricane Michael claims efficiently. A new study by Demotech shows our domestic …
