“Could be an unmitigated disaster”
The Florida Legislature’s May 23-25 special session didn’t come soon enough for yet another insurance company which is now trying to wind-down at least some of its operations among growing concern by ratings agencies of …
2022 Special Session on Property Insurance
The Florida Legislature ended its special session on property insurance Wednesday afternoon (May 25, 2022) passing a series of reforms addressing the dire escalating issues in the Florida’s homeowners insurance marketplace. They also included …
End of Special Session on Property Insurance
The Florida Legislature ended its special session on property insurance Wednesday afternoon (May 25, 2022) passing a series of reforms addressing the dire escalating issues in the Florida’s homeowners insurance marketplace. They also …
Special Session on Property Insurance
from the LMA Newsletter of May 23, 2022
The Florida Legislature this morning begins its week-long special session focused entirely on addressing the dire escalating issues in our property insurance market. Initially sparked by laser-focused …
Florida cited in NICB report
A new report says property and casualty insurance companies across the US paid upwards of an extra $9.2 billion in disaster claims because of insurance fraud last year. With hurricane season just a week away, …
Consumers suffering consequences
Three more insurance companies went before Florida regulators last week seeking rate increases from 23% to 49%, citing in part the growing frequency and severity of claims litigation which is driving up costs for all Florida property …
Special Session on Property Insurance
The Florida Legislature this morning begins its week-long special session focused entirely on addressing the dire escalating issues in our property insurance market. Initially sparked by laser-focused Senator Jeff Brandes and formally called by Governor …
A real estate and insurance agent weigh-in
I sat down recently with a long-time insurance agency executive and a top real estate agency owner who shared their ideas on which reforms would be most effective for lawmakers to achieve in …
Affordability & availability at issue
We’re still awaiting this morning the exact dates of next month’s announced special session of the Florida Legislature to address Florida’s increasingly dire homeowners insurance market (the rumor is May 23-27). After weeks of saying …
Tough choices ahead
Many policyholders from insolvent insurance companies and from the dozen other carriers who’ve simply stopped or reduced their writing in Florida are ending up at Citizens Property Insurance Corporation, the state-created and taxpayer-backed “insurer of last resort.” …