Every year, Floridians see their health, car, homeowner’s, and just about any other insurance policy premiums balloon to unaffordable levels. It’s easy to blame the insurance companies because after all, they are the one’s setting the rate increases, right? Read the entire opinion piece by clicking here
Five years ago, encouraged by home builders and an anti-regulatory zeal, lawmakers in North Carolina joined other states in weakening building code requirements. It’s a decision they may regret as Hurricane Florence takes aim at the Carolinas. Read more from Bloomberg here.
Hurricane Irma-related lawsuits surged at Citizens Property Insurance Corp. early this year, representing a nearly 50 percent increase in the company’s litigation load compared to the same period in 2017. Read more from Florida Politics here
Reinsurance rate increases at the June 1 Florida property-catastrophe renewal missed early expectations, JLT Re, a unit of Jardine Lloyd Thompson Group P.L.C., said Friday, coming in at low single digits. Read more from Business Insurance here
Lawsuits against property and casualty insurers with the largest market shares in Florida increased sharply in the first quarter of 2018 compared with the same period last year, and Hurricane Irma claims are to blame, insurers say. Read more from the Sun-Sentinel here
With over 900 items on the Florida legislative docket and only 60 days to consider them, it’s not surprising that many bills simply die in committee or are never seriously considered. Add to that a tragic event right in the middle of the session and what you get are shifted priorities. What was important becomes [...]
A coalition of businesses advocating for Assignment of Benefits reform released a new video Monday detailing the story of a Florida homeowner who was the victim of a shady contractor. Read more from Florida Politics and view the video here
The showdown in the Florida statehouse last year had all the drama of a knock-down political brawl: Powerful industries clashing. Warnings of death and destruction. And a surprise last-minute vote, delivering a sweeping reform bill to the governor’s desk. Read more from Bloomberg via Insurance Business America by clicking here.
Another year with home insurance rate increases and no real action by the Florida Senate regarding assignment of benefits (AOB) reform. Despite overwhelming evidence of rising water claims and lawsuit-for-profit schemes, the Florida Senate continues to ignore the real insurance problem and refuses to properly fix this ongoing, devastating issue. There is no denying these [...]
Over the objections of some of the largest business associations in the state, the Senate Banking and Insurance Committee on Tuesday approved a bill that would eliminate the state's ability to collect $222.4 million in additional premiums for the Florida Hurricane Catastrophe Fund. Read more from the News Service of Florida here