Recap of Week 1 & Preview of Week 2 of Session
The second week of the Florida legislative session begins this morning, following a busy week last week that saw additional insurance bills filed. The session kicked-off with the two …
Bill Watch
Story Tag: Florida Insurance Guaranty Association
Bill Watch
Session preview
The 160 members of the Florida Legislature return to the Capitol here in Tallahassee next Tuesday (January 13) to begin their scheduled 60-day regular session. Some of the work on issues important to leadership began this past fall …
Insurance Companies File More Rate Hikes
Governor’s premium rate relief uncertain
Two property insurance companies have filed for rate increases of more than 50% on their Florida policies, legislative leaders say they’re still considering the Governor’s proposal for homeowners insurance premium relief, and a new report …
Citizens Rate Hike Tied to Takeout Success
New companies, new rankings
Can Citizens Property Insurance get the rate hike needed to reduce its competition with private market carriers, even as more of them are approved to takeout Citizens policies? Meanwhile, two more property insurance companies join the …
76% Homeowners Insurance Hike Projected
Emergency assessment ordered
Florida is in store for a whopping 76% increase in homeowners insurance premiums in 2023 over last year, insurance regulators approve an emergency assessment on almost all Florida insurance policies to pay for the most recent carrier …
Emergency Assessment Pending
Plus, a new dispute on one-way attorney fees
Florida’s latest property insurance company insolvency may likely trigger the first emergency assessment on the industry since Hurricane Andrew, new questions being raised in courtrooms on how to apply the recent one-way …
Is the Legislature Poised for Meaningful Reform?
Further signs of a deteriorating property insurance market
Although no official proclamation had been issued as of last night, the new Florida Legislature is poised to meet a week from today (December 12) in a week-long special session to address …
OIR: Florida Insurance Litigation Declining
But lawsuit notices, AOB’s on the rise
State regulators have approved an extension of a special assessment on Florida property insurance policyholders, while they consider loosening rules on Citizens Insurance coverage. Meanwhile, the insurance commissioner says litigation against companies is …
Relative Calm Returns to the Florida Market
Citizens hits the 1 million policy mark
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 …
Regulators’ Reaction
New market stabilization program premiers
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 …
