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% …
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 …
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 …
A very small property insurance writer in Florida is heading into receivership with state regulators, an early forecast warning for this year’s hurricane season, and perhaps an end to anonymous tips on code-enforcement violations. It’s …
Once again, Florida’s 4th District Court of Appeals (“DCA”) has allowed litigants to file bad faith lawsuits after an insurer covers a claim and timely pays the full amount of an appraisal award. This time, …
I had the pleasure of sitting down last week with two veteran insurance agents on the frontline of Florida’s topsy-turvy property insurance market. They revealed the hidden consequences that higher insurance premiums are having on …
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 …
The Fourth District Court of Appeal recently addressed the issue of whether a release attached to a Proposal for Settlement (PFS) rendered an insurer’s motion for attorney’s fees unenforceable. In this case, …
About the time you open this week’s newsletter, the Citizens Property Insurance Corporation rate hearing will begin. Of note in the rate filing details is a proposal by Senator Jeff Brandes and approved by …
I had the privilege last week of speaking to the Florida Housing Coalition, a group of stakeholders involved in workforce housing across the state. Developers, Realtors®, landowners, and many others listened and discussed the sad …
