Recap of Week 2 & Preview of Week 3 of Session
By week’s end, we’ll be a third of the way through the Florida Legislature’s nine-week session. Given that the pre-session committees heard very few bills, lawmakers are rushing to …
Bill Watch
Story Tag: National Flood Insurance Program
Regulators Concerned About Hurricane Claims Handling
Focus on FEMA, NFIP, plus latest storm payouts
Florida insurance regulators want more information on federal flood insurance claims problems following hurricanes Debby, Helene, and Milton; FEMA borrows $2 billion from the U.S. Treasury to pay Helene and Milton flood …
Bill Watch
Start of session
The slow and interrupted pace of the past two months of Florida legislative committee meetings yielded an avalanche of bills in the last two weeks prior to this past Friday’s filing deadline, including several shocking bills that …
FEMA Eliminates Flood Discounts
Property insurance lawsuits decreasing, funding growing
FEMA strikes Fort Myers Beach flood discounts, Florida’s litigated insurance claims are down rather dramatically so far this year, third-party litigation funding emerges as a multi-billion-dollar industry, and Florida’s insurance commissioner orders a 1% …
Helene & Milton Florida Claims Approaching $5 Billion
‘Manageable’ event for carriers
While Florida residents braced themselves for a wild 2024 storm season, the Florida Hurricane Catastrophe Fund and insurance companies statewide prepared for the worst. In total, the Cat Fund is expected to pay out $4.6 billion …
An Investment in Saving Lives, Property, and Money
This is a special edition of our LMA Newsletter that we are devoting to the topic of fortifying our homes, in the wake of the devastation from Hurricanes Helene and Milton. We’re going to share with you the latest building …
New Flood Disclosure Laws
Plus, rising concern over repeated flood claims
New flood disclosure laws go into effect in Florida, new data from FEMA on the large number of properties with repetitive flooding, plus a startling report says half of all floodplain development in …
National Disaster Insurance?
New report offers ideas to expand insurance availability
The Congressional Budget Office (CBO) is out with its latest report, representing Congress’ ongoing effort to examine the property insurance market and determine if it has the juice to provide adequate, available, …
Lack of Flood Insurance Evident in Low Debby Payouts
More than two-thirds of residential claims not covered
Less than a third of Florida’s Hurricane Debby residential property claims were paid before being closed, as those caught without flood insurance become more evident; a new look at flooding risk across …
Florida’s Expanding Flood Zones
Broward’s 21-mile inland storm surge
High-risk flood zones are expanding this year along significant stretches of Florida’s coastline. In Broward County, nearly 90,000 properties have been moved into a FEMA flood zone. But 80,000 of them were in such a …
