As the 2017 Florida Legislative Session has ended, we once again find the state without a solution to the Assignment of Benefits crisis, which is raising home insurance costs and threatening to make home ownership unattainable for many. Insurance is meant to make homeowners whole when they experience a covered loss, not line the pockets [...]
For South Florida homeowners, 2017 already figured to be a year of steep property insurance rate increases. Read more from the Sun-Sentinel here
Because of the Legislature's inaction, Floridians will get no property insurance relief this year. There is debate about how the state should respond to what insurers contend are excessive claims for non-emergency water damages. Unfortunately, the Legislature didn't even have the debate. Read more from the Sun-Sentinel here
State-backed Citizens Property Insurance Corp. is looking for a 9 percent increase from Palm Beach County homeowners – and an average 6.8 percent statewide – even though there hasn’t been a hurricane in more than 10 years. Read more from the Palm Beach Post here
The FPCA prepared the following letter to the editor in response to an August 22, 2016 Miami Herald newspaper feature on South Florida's largest homeowners insurers. Dear Editor: We applaud the Miami Herald’s efforts to educate its readers on the state’s home insurance market, but a recent article included inaccurate assessments of Florida-based insurers by Weiss [...]
Healthy insurance market We applaud the Times for the thorough coverage of Florida's homeowners insurance market and willingness to report on the industry's strong financial position on virtually every level, including: the Florida Hurricane Catastrophe Fund, with almost $14 billion in surplus; Citizens, with more than $7 billion; and a healthy and competitive private marketplace [...]
With the 2016 legislative session completed, the Florida Legislature has failed to pass a meaningful solution to the assignment of benefits crisis that is now rapidly spinning out of control. Organized and carried out by a handful of vendors and lawyers, this kickback-driven lawsuit-for-profit scheme is already punishing homeowners with higher rates, and threatens to [...]
With the 2016 legislative session completed, the Florida Legislature has failed to pass a meaningful solution to the assignment-of-benefits (AOB) crisis that is rapidly spinning out of control. Organized and carried out by a handful of vendors and lawyers, this kickback-driven, lawsuit-for-profit scheme is already punishing homeowners with higher rates — and threatens to do [...]
Following the 2016 Florida Legislative Session’s failure to pass essential assignment of benefit (AOB) reforms, the insurance industry and Citizens Property Insurance Corp. are working in tandem with the Florida Office of Insurance Regulation (OIR) to find workable administrative measures to help combat this kickback-driven lawsuit-for-profit scheme. Read more of the FPCA's article from the [...]
With the 2016 legislative session completed, the Florida Legislature has failed to pass a meaningful solution to the assignment of benefits crisis that is now rapidly spinning out of control. Read more from the Florida Times Union here