Newest filings for up to 111% increases
The New Year is bringing a new round of homeowners insurance rate filings and this week there will be three companies – with proposed rate increases from 26% to 111% – that will …
Explosive Rate Hikes Continue
Story Tag: Florida Homeowners Insurance Market
Citizens Pushing Higher Rates
Bonds vs. reinsurance considered
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 …
Property Insurance Lawsuits Up 29%
Contractor, lawyer workarounds up, too
As we said, so far, the additional needed insurance consumer protection reforms haven’t been filed yet in the Florida Legislature, but new data supports that they are needed now more than ever. A look at …
Preparing for Session
Major insurance bills missing
Lawmakers are back in Tallahassee this week for the last of six weeks of committee meetings leading into the regular 60-day legislative session that begins on January 11. The full legislature was in town the week …
Legal Challenges to SB 76
New insight
So what of the current legal challenges to Florida’s new property insurance reform law, SB 76? I had the pleasure to sit down recently with Jose Pagan, a former fraud regulator who is now one of Florida’s leading …
Boyd Leading on Consumer Reforms
Focus on ACV & solicitations
It’s week #4 of legislative committee weeks in Tallahassee, but the agenda is rather light this week on insurance issues. The big news was last week, when the chair of the Senate Banking and Insurance …
Immediate Savings Today
By David J. Salmon, Esq.
Florida law concerning actual cash value damages changed. But insurance professionals are not adapting. Adjusters on both sides of the fence define “actual cash value” as “replacement cost less depreciation”. Insurers employ this formula through …
Social Inflation – It isn’t about increasing dinner party attendance!
I do my best work when I can work with what I call “young guns” – those in the 18 to 30 year old generation. They are funny, bright and brilliant. Their views are not always mine but it is …
Citizens Growing Faster
Exposure doubled
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 …
Florida Insurance Market “Dire”
Fraud, lawsuits to blame
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 …
