The Office of Florida Governor Rick Scott issued the news release below today, May 17, 2011, after the Governor signed CS/CS/CS/SB 408, a comprehensive bill relating to residential property insurance. The bill is also known as the "Cost Driver Bill." Governor Scott Signs Bill to Strengthen Florida's Insurance Market TALLAHASSEE - In keeping with his [...]
The Florida Hurricane Catastrophe Fund ("FHCF") has released its Fiscal Year 2009-2010 Annual Report, which can be viewed by clicking here. The Annual Report includes operational and legislative highlights, as well as statistical information and financial statements relating to the FHCF.
The Florida Senate Budget Subcommittee on Finance and Tax passed as amended, CS/SB 1816 Relating to Surplus Lines, during its meeting today, April 13, 2011. The bill is sponsored by Senator Mike Fasano (R-New Port Richey) and cosponsored by Senator Garrett Richter (R-Naples), and the Committee Substitute is sponsored by the Senate Banking and Insurance [...]
Joining representatives from the Florida Association of Insurance Agents ("FAIA") in a teleconference with media members today, April 11, 2011, Senator Alan Hays called Citizens Property Insurance Corporation ("Citizens") a "fraudulent company that is state-owned" and said that it would be "irresponsible to continue what we've been doing" with regard to Citizens.
As published in the Sunshine State News, "Every day Floridians are targeted by individuals seeking to use them as pawns in schemes to defraud and collect millions, and it is costing Florida families as much as $100 in higher auto insurance premiums every year. It’s called personal injury protection (PIP) fraud and efforts are under [...]
According to National Underwriter, legislation in Florida aimed at curbing personal injury protection (PIP) insurance fraud stalled in state Senate Banking and Insurance Committee yesterday. The discussion related to SB 1930, a bill to tackle alleged fraud by medical clinics and staged auto crash rings, took too long and a vote on the measure was put [...]
Florida Property & Casualty Association Chairman Chuck Grimsley recently penned a letter on the importance of fixing Florida's broken no fault automobile insurance system. Read the entire letter here
The following article by FPCA legal counsel Richard Fidei explains how Florida public adjusters are joining to file a lawsuit for a declaratory judgment against the Florida Office of Insurance Regulation (OIR). The article was published in National Underwriter. Read the entire story here
According to the St. Petersburg Times, Governor Scott's shift of emergency management authority has changed very little. Read the entire story here
According to the Tampa Tribune, high coastal exposure to hurricanes is one reason Florida has the highest property-insurance rates in the country. Read the entire story here