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 …
So what of these concerns that fraud, excessive litigation, and growing reinsurance costs are causing market contraction among property insurance companies and forcing more homeowners into Citizens Property Insurance Corporation, the state’s taxpayer-backed “insurer of …
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 …
Last week the Florida Bar’s second of four complaints against suspended South Florida plaintiff insurance attorney Scot Strems was the subject of a lengthy hearing. This case addresses alleged misconduct in representing elderly client Margaret …
In order to craft appropriate insurance marketplace reforms, Florida House Commerce Committee Chairman Blaise Ingoglia asked Insurance Commissioner David Altmaier in January to provide additional information on cost drivers in residential and automobile insurance …
Two new research reports are providing hard data and credible insight into two main drivers of Florida’s rapidly rising property insurance rates: increased litigation and unchecked fraud. Both reports outline a series of measures that only …
There’s another significant development from over the past holiday to report, this one concerning the appraisal of property insurance claims. It has been common practice for Florida courts to deny a property owner’s motion to …
Last week, there were several Senate and House Committees that discussed, debated and dreaded the facts about the Florida property insurance market. Senate Banking and Insurance Committee Chairman and Manatee/Sarasota Counties Senator Jim Boyd used the word …
Despite and certainly because of the challenges facing Florida’s homeowners insurance market, there are things we can do as insurance consumers and as the insurance professionals who serve them, to make 2021 a better year for …
In an update to the legal battles of the Florida Bar v. Scot Strems, we are providing quoted excerpts and links to the most recent pertinent published reports. The Florida Bar recently filed its fourth complaint against …
