Recently, Florida Insurance Commissioner Kevin M. McCarty announced his resignation. Our association applauds Commissioner McCarty for his leadership in guiding the state’s insurance market back to stability after the storms of 2004 and 2005. His work to help fix the mess of Florida’s out-of-control sinkhole claims was also particularly impactful to our state. After back-to-back-to-back [...]
Below is an AOB opinion piece penned by Steve Pociask of the American Consumer Institute. It was published online by Forbes. By some accounts, Florida has the highest homeowner's insurance rates in the country and rates keep rising, despite not having a major hurricane in the last decade. The culprit - a concentration of non-weather [...]
The Florida Office of Insurance Regulation (OIR) recently announced the results of its third year of catastrophe stress tests, which included all of the state’s 112 insurance companies, including 67 Florida-based insurers. Here’s the good news: The results showed that the Florida property insurance market can withstand significant catastrophic losses. All 112 companies that participated [...]
The FPCA recently worked with the South Florida Business Journal to publish an article regarding Florida's home insurance market and the financial stability of the domestics. This article, titled "Florida’s home insurance market is healthy, competitive" published today. Click here to view the article.
Florida Property & Casualty Association Executive Director William Stander published the article "Advocating for a healthy and competitive Florida home insurance market" on Property Casualty 360. After back-to-back-to-back hurricanes a decade ago, many insurers fled Florida, leaving homeowners with a few, expensive choices. Today, the market is much healthier, competitive and homegrown. The turnaround came [...]
Opinion piece by William Stander, executive director of the Florida Property & Casualty Association. The conclusions reached by your columnist about Florida-based home insurers' ability to pay claims in the event our state is hit by one or more storms in a single season are simply not true. Florida domestic insurers currently have a combined [...]
Booming assignment of benefits (AOB) water damage claims are placing additional pressure on Florida insurances rates. Last week, the Florida Legislature failed to advance legislation that could fix this looming insurance crisis, which is organized and carried out by unscrupulous vendors and lawyers in what has developed into a rapidly growing lawsuit-for-profit scheme. We’re seeing vendors and lawyers [...]
FPCA Executive Director William Stander drafted this opinion piece in a response to a Dec. 5 article in the Palm Beach Post regarding Florida's insurance market. Read the entire letter here
Daniel Ruth's column did the Times and its readers a disservice with an uninformed, sneering assessment of Florida-based homeowners insurance companies. Read the entire letter by William Stander, executive director of FPCA, here.
House Bill 1107 proposes to reduce the catastrophe reinsurance provided by the Florida Hurricane Catastrophe Fund to insurance companies writing homeowners insurance in Florida from $17 billion to $14 billion over a period of three years. As currently proposed, this reduction will be at the expense of consumers that will have to pay more in premiums. The Florida Property & Casualty Association (FPCA) supports reducing the liability exposure of the Florida Hurricane Catastrophe Fund (FHCF); however, the FPCA would propose reducing the amount of coverage while also lowering the attachment point to make the change rate neutral to the consumer. […]