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 [...]
“The legislature’s failure to directly address the assignment of benefits crisis will allow runaway claims to spiral further out of control,” said William Stander, executive director of the Florida Property & Casualty Association, said in April. “Coupled with the approaching hurricane season, which brings its own uncertainties, the potential for higher rates is palpable.” Read [...]
Florida’s nine-year streak of avoiding hurricanes is helping the state reach a historic milestone: for the first time ever, the state-created fund designed to help pay out claims after storms has enough cash and assets on hand to pay off everything it could owe. New estimates show the Florida Hurricane Catastrophe Fund should have $17 [...]
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 [...]
Earlier this week, the legislature failed to advance legislation that could fix a looming insurance crisis organized and carried out by unscrupulous vendors and lawyers in what has developed into a rapidly growing lawsuit-for-profit scheme. Read the entire press release here
“The legislature’s failure to directly address the assignment of benefits crisis will allow runaway claims to spiral further out of control,” said William Stander, executive director of the Florida Property & Casualty Association. “Coupled with the approaching hurricane season, which brings its own uncertainties, the potential for higher rates is palpable.” Read the entire blog [...]
Gov. Rick Scott and Cabinet members voted Tuesday to bolster the state's catastrophic insurance fund with $2.2 billion of added coverage in advance of what forecasters predict will be another quiet hurricane season in Florida. Read the entire article here
Bills are gaining momentum in both the House and Senate and to rein in a rapidly growing insurance scam in which sketchy trial lawyers and remediation firms are getting stressed-out homeowners to sign over their policy benefits and rights after a burst water pipe or similar home emergency. Read the entire story here
Florida’s last-resort insurer has slimmed down to its smallest size since its 2002 creation after a record departure of 416,000 customers in 2014 — and if the state keeps dodging hurricanes, it could get even smaller, executives said Wednesday. Read the entire story here