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% …
Efforts fell flat on their face this past week by those trying to refute the damning data from the National Association of Insurance Commissioners (NAIC) about Florida’s lawsuit factories. It was that NAIC …
About 90 minutes from my Tallahassee home is Wild Adventures, an amusement park. The name of this Valdosta, Georgia attraction reminds me of this last week’s legislative activities and you will see why as you scroll down in this edition …
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 …
Last week, we reported on a new invasive species of fish in Florida’s waterways. Now we are sharing about an old threat with a new twist – one that impacts homeowners and insurance interests: …
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 …
