Homeowners, workers’ comp rate decrease
More than half of August’s Hurricane Debby claims are now closed, the largest homeowners insurance rate decrease of the year has been filed, what some Florida insurance agents are now hearing from their customers, a …
Plus, a win for a roofing contractor
A federal appellate court rules an insurance company waited too long to object to an appraiser, a state appellate court rules a trial court was too quick to order an appraisal, and a …
Florida’s strengthening property insurance market
Florida’s insurance commissioner releases another positive update on the property insurance market, insurance-linked securities are on pace to set a record, a new bill in Congress would provide tax deductions on homeowners insurance, plus the …
Citizens explains its private market non-competitiveness
Florida’s Hurricane Catastrophe Fund is poised to borrow lots more money when the next big storm hits, Citizens Property Insurance is moving closer to non-competitiveness with the private market and actuarial soundness, and the …
Plus, more homeowners market rate cuts
Citizens Property Insurance says it has submitted to political pressure to write commercial policies that it otherwise wouldn’t, another big Florida property insurance company announces rate cuts, the biggest jump in the Consumer Price …
Plus, lightning taking an increasing toll
Providing consumers understandable answers about Florida’s challenging property insurance market, another insurance company seeks a double-digit increase, the growing policy assumption rate by private carriers in Citizens Insurance depopulation, plus an ominous weather distinction …
Federal disaster aid for Tallahassee tornados
The recent South Florida deluge generates several thousand automobile insurance claims for flooded vehicles and a data call, Tallahassee gets a federal disaster declaration for last month’s tornados, there’s new money for home mitigation …
Plus, reinsurance pricing & OIR rule changes
Reinsurance pricing at the June 1 renewals was thankfully flat with some decreases, Southwest Florida communities have resubmitted critical data to FEMA hoping to keep their federal flood insurance discounts, Florida insurance regulators …
Climate change vs. inflation
Members of the U.S. Senate Budget Committee last week debated the root cause of the property insurance crisis affecting homeowners nationwide, with a wide range of culprits depending on who you ask. The Democrats were quick …
The U.S. Senate Budget Committee met last week to hold another hearing on how the climate is impacting insurance markets and rates (see our next newsletter story) but it missed the point by its ongoing focus, as we’ve …