The ratings discussion has been settled for now in Florida’s property insurance market and we also received some welcome clarification on what type and how many bad storms our carriers can financially weather …
The biggest concern recently explained by regulators about Florida insurance company rating downgrades has been the effect they may have on tens of thousands of federally-backed home mortgages in Florida, which require insurance companies be …
What a tumultuous two weeks it’s been for Florida’s property insurance market. While it reportedly reaffirmed “A” ratings for a majority of Florida’s domestic insurance companies, ratings agency Demotech downgraded three companies and pulled ratings altogether …
The list of property insurance companies trying to reduce their exposure in writing Florida homeowners policies continues to grow. Other carriers are looking for ways to reduce their litigation claim costs as regulators try to better quantify …
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 …
Earlier this month, the Office of Insurance Regulation (OIR) reported that 27 companies are on its own “enhanced monitoring” list for various indicators of unsound financial condition. OIR also reports that excessive litigation …
We expect to get more information later today about those 17 or so letters that Demotech sent to Florida property insurance writers warning they may lose their “A” rating as soon as tomorrow. The letters reflect …
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 …
LMA had the privilege of hosting Jake Huxtable, a partner at Kelley Kronenberg’s West Palm Beach office, who was the successful litigator in a recent appellate decision involving Assignment of Benefits (AOB) contracts under the Florida …
More insurance companies are restricting their policywriting in Florida following reinsurance rate hikes as high as 50%, coupled with a 12% increase in the Florida Cat Fund premium. Meanwhile, ratings agency Demotech is still reviewing the …
