Plus, potential rules on use of insurance drones
A memo from the Florida Office of Insurance Regulation (OIR) touts the benefits of recombining all insurance regulation under one agency, experts discuss the impact of tariffs on the insurance landscape, and …
Missing: affordable reinsurance
More proposed rules are in the pipeline with a workshop tomorrow to implement some of Florida’s most recent property insurance market reforms, five insurance companies get the okay to takeout up to 186,000 policies from Citizens Insurance …
Condo next door sued
The Surfside condo tower collapse was the subject of discussion at the recent National Council of Insurance Legislators (NCOIL) conference I attended. The question: how big an impact will it have on property insurance underwriting and …
Federal flood insurance debates
Congressional hearings got underway recently on long-term reauthorization of the National Flood Insurance Program (NFIP) and on what, if any, guidance Congress should give to FEMA on the NFIP’s new Risk Rating 2.0 pricing program set …
From the courts to the parks
While COVID-19 shut down business and other activities, it didn’t slow the growth of lawsuits in Florida, with clerks reporting a huge influx of new cases and a growing million case backlog, as most …
NFIP raising rates up to 25%
There are three states whose legislatures are teeing-up bills to provide the needed structure and encouragement for development of a private flood insurance market. The idea is to help consumers, whether residential or commercial …
South Carolina passes law
So the question remains, how can we make flood insurance more available and affordable to more homeowners? On the heels of a new national private flood insurance model act, South Carolina has become the latest state …
NFIP expires Wednesday
There are several important flood insurance stories to report this week. A private flood insurance model act was passed over this weekend, Congress is prepared to extend the National Flood Insurance Program for a full year, and …
Upcoming conference, NCOIL update
Hurricane Isaias two weeks ago caused significant flooding in Pennsylvania and with it, stories of homeowners caught off-guard and without flood insurance to cover the damage. A new national survey shows residents significantly underestimate their exposure …
How to encourage flood insurance
I had the pleasure of listening to some terrific speakers at this past week’s National Flood Conference, which was held virtually this year because of the coronavirus pandemic. Of particular interest was the growing number …