Tag: Florida

June 15, 2022

The insurance and reinsurance industry would have welcomed “reforms that helped the industry today” in Florida’s property insurance market, according to the CEO of CaseGlide, as notices of intent to litigate claims rose 10% in the state in May. That’s […]

May 27, 2022

Florida Gov. Ron DeSantis signed property insurance and condominium maintenance reform legislation into law Thursday, putting an exclamation point on a whirlwind of lawmaking that began just a week ago when the bills were drafted and filed. “This package represents […]

May 24, 2022

The National Association of Mutual Insurance Companies (NAMIC) has commented on Florida’s special session on the property insurance crisis, which it sees as an opportunity for the Legislature to pass critical reforms to address some of the most pressing issues […]

May 19, 2022

Florida Insurance Commissioner David Altmaier has been named in a lawsuit which alleges that the commissioner violated the law by enabling home insurers to change consumers’ policies. The lawsuit, filed in Leon County by the Restoration Association of Florida (RAF) […]

May 2, 2022

A South Florida man has been charged in connection with what appears to be a new twist on auto insurance fraud. State and local authorities said that Victor Van Vickery, 33, of Delray Beach, claimed to be in a Uber […]

March 2, 2022

With the March 11 scheduled close of its regular session fast approaching, the Florida Legislature remains so focused on putting the finishing touches on its various culture-war signaling bills that one might think Tallahassee hasn’t noticed that the state’s property […]

January 21, 2022

The latest property insurance rate increase filings submitted by carriers in Florida are calling for really significant uplifts in pricing, suggesting the primary market still believes more rate is required to support sustainable profits, which implies reinsurance firming also needs […]

October 25, 2021

Despite hearing warnings of more rate hikes and more red ink from property insurers in coming months, Florida lawmakers may little appetite for further, significant changes to the state’s insurance laws. Instead, the Legislature, which convenes Jan. 11, may wait […]

October 19, 2021

As part of its effort to reduce its ballooning exposure level and trim the number of policyholders, Florida’s insurer of last resort will increase its property inspections by almost 70-fold over the next four years — with plans to spend […]

October 5, 2021

The Florida Insurance Guaranty Association is urging insurers to hold off on sending homeowners’ policy renewals until state regulators decide if they will approve a surcharge on premiums to help cover more than $168 million in claims left from two […]

August 16, 2021

Tropical storm Fred is now set for a landfall late on Monday in the Florida Panhandle or Big Bend area, moving slowly towards the coast with winds currently at 50 mph and a little more strengthening still forecast before landfall. […]

July 15, 2021

The Citizens Property Insurance Corporation’s Board of Governors approved rate adjustments that will raise average premiums by an additional 2.3% in February 2022. The board for the state-backed insurer unanimously voted in favor of the rate increases, which head to […]

July 12, 2021

A federal judge has halted enforcement of a section of Florida’s new property insurance reform (SB 76) law that restricts the advertisements and solicitations of roofing contractors. U.S. District Judge Mark Walker granted the injunction Sunday in response to a […]

July 6, 2021

Florida Governor Ron DeSantis has vetoed a bill that would have repealed the state’s no-fault auto insurance system. Senate Bill 54 would have rewritten state laws, replacing personal injury protection coverage (the so-called “no-fault” system) with mandatory bodily injury coverage […]

July 2, 2021

We now have our first hurricane of the 2021 Atlantic tropical storm season, as tropical storm Elsa has intensified as anticipated and now becomes hurricane Elsa, with the forecast still bringing the storm towards Florida over the coming days. Hurricane […]

June 29, 2021

Florida’s Office of Insurance Regulation (OIR) has placed Gulfstream Property and Casualty Insurance (Gulfstream) under its administrative supervision, after deeming the insurer unable to keep the minimum amount of funds to pay for policyholders’ claims. Under the regulator’s supervision, Sarasota, […]

June 7, 2021

AM Best has reported that a group of property insurers in Florida have hit a five-year performance and surplus low in 2020, and given persisting and significant market hurdles, the rating agency believes companies will find sustaining current surplus levels […]

May 27, 2021

Rating agency AM Best has chimed in on the issues facing the Florida property insurance market and chief among them is the fact many are going to struggle to maintain their surpluses, leading some to downsize, shed business and move […]

May 26, 2021

Primary insurers in Florida and elsewhere that are renewing their reinsurance programs for June 1st 2021 are set to come out of the renewal season largely unscathed, as reinsurance pricing faltered and came in below expectations, analysts at JMP Securities […]

April 19, 2021

The litigation issue and resulting loss inflation and amplification continues for Florida homeowners’ insurers, with the latest report from United Insurance Holdings (UPC Insurance) suggesting that the issue is worsening in 2021. United (UPC) reported on Friday that it has […]