One day after the House inserted a provision restricting the “assignment of benefits” – where a homeowner signs over the benefits of an insurance claim to a contractor to make fixes to a home, usually in the case of an emergency like a pipe burst or leak – into a bill aimed at informing consumers [...]
A spirit of cooperation between the House and Senate worked to produce an overachieving Legislature in 2013, so why not stick with a winner in 2014, Florida Senate President Don Gaetz told the staff of Sunshine State News Tuesday. Read the entire story here.
Today, SB 542 sponsored by Senator Jeff Brandes passed the Senate Committee on Appropriations with strong, unanimous support. Read the entire story here.
In less than two years, Citizens Property Insurance has dropped its policy count by a half-million, pushing the state-run insurer of last resort below 1 million policies for the first time since 2006. Read the entire story here
Already moving in the Senate, legislation requiring homeowners covered by Citizens Property Insurance Corp. to use contractors approved by the company to repair sinkhole damage got its first review in the House on Tuesday. Read the entire story here
Citizens Property Insurance has shrunk below 1 million policies for the first time since 2006, a milestone indicating that a major effort to push policies toward private insurers is working. Read the entire story here.
CFO Jeff Atwater today announced that the ongoing insurance fraud investigation known as ‘Operation Leaky Pipes’ has led to the arrests of 12 Miami residents. The investigation uncovered a scheme between a licensed public adjuster and a plumber to coach homeowners on how to file fraudulent insurance claims for pre-existing or non-existent water damage. The [...]
As reported by the Palm Beach Post, “A new computer clearninghouse launched Monday to steer insurance customers out of state-run Citizens and into private insurers seems to be functioning properly, officials said, and agents reminded consumers it contains only four private carriers so shop around.” Read the entire story here
The Florida Office of Insurance Regulation (“OIR”) released a preliminary analysis of rates submitted by the top 20 automobile insurance companies writing Personal Injury Protection (“PIP”) insurance in Florida today, January 22, 2014. These companies’ business equates to more than 75 percent of the Florida market, according to OIR data. […]
The U.S. Government Accountability Office ("GAO") published a statutory report (GAO-14-136) on the Nonadmitted and Reinsurance Reform Act of 2010 ("NRRA") today, January 16, 2014. To go directly to the complete 55-page report, entitled "Property and Casualty Insurance: Effects of the Nonadmitted and Reinsurance Reform Act of 2010," click here.