Florida Insurance Commissioner Michael Yaworsky has been on the road, engaging with stakeholders in our state marketplace. The most recent examples: traveling with the governor to meet with reinsurers in Bermuda at the PwC …
This week’s newsletter has several stories on Artificial Intelligence (AI) and its current and potential use in all lines of insurance. Florida lawmakers meeting in committee this month expressed concern, asking a panel of industry experts how insurance companies use …
In our recent reporting of the latest Property Insurance Stability Report by the Florida Office of Insurance Regulation (OIR), we noticed that although OIR provided county-by-county average homeowners and condo unit premiums, there was no statewide average shown. So we …
Gallagher Re says Florida’s recent legislative reforms led to more available and affordable reinsurance this hurricane season, new hurricane models are making their debut, plus a survey finds a sizeable number of …
As you’ll read in this newsletter, this past week was very interesting and eventful on the Florida legislative and regulatory front, and this new week promises to hold its own intrigue. Last Monday, the Governor released his proposed budget for …
The California wildfires could negatively impact homeowners insurance rates in Florida this year, Gallagher Re warns of a “new normal” for annual insured losses from catastrophes, plus the big pushback from the insurance …
With five weeks to go before the start of the regular 60-day Florida legislative session, some insurance bills are now being filed. One would further restrict bad-faith claims and public adjuster conduct, another would increase policyholder …
Everyone has felt the strain on homeowner’s insurance, something that has been steadily mounting nationally since the COVID-19 pandemic. A recent report from the Insurance Information Institute (Triple-I) looked for trends and dynamics and found that persistent inflation lingering from …
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 …
Population growth has brought Florida the highest inflation in the nation, and with it, seven of the top 10 most expensive communities for home prices, plus what $98 million is going to buy in Panama City from …
