Lifelong Florida resident, long-time Florida politician, and head of the Florida Department of Financial Services (DFS), Jeff Atwater shocked the state when he announced in February he would step down as chief financial officer at the end of the 2017 legislative session to become vice president of strategic initiatives and CFO for Florida Atlantic University [...]
Florida's badly broken system for filing and settling insurance claims, which is wreaking havoc in the property insurance market, is creeping into auto policies with Tampa Bay at ground zero. Assignment of benefits, which can lead to costly court battles, is driving up rates for thousands of homeowners across Florida, and drivers are starting to [...]
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
Once again, the end of Florida’s spring legislative session is drawing near and the property insurance industry is starting to worry that chances to enact reforms to stem financial losses are slipping away. Read more from the Sun-Sentinel here
In front of the Florida House Chamber, the Consumer Protection Coalition, a broad-based group of business leaders, consumer advocates, real estate agents, construction contractors, insurance agents and insurance trade groups, today called on Florida lawmakers to protect Florida consumers and pass meaningful reforms to end Assignment of Benefits (AOB) abuse in the Sunshine State. "We [...]
Insurance Commissioner David Altmaier is encouraging consumers to have flood insurance protection in place for their homes and businesses prior to the start of this year’s hurricane season. A basic homeowners insurance policy does not provide coverage for flooding. This coverage must be purchased separately through either the federally-administered National Flood Insurance Program (NFIP) or [...]
Citizens Property Insurance Corp. will post a net loss for 2016, its first loss in more than a decade, as water loss claims, assignment of benefit (AOB) abuse and litigation costs increasingly impact the company’s bottom line, according to a statement from the Florida state-run insurer. Read more from the Insurance Journal here
The Consumer Protection Coalition launched a radio and television ad campaign Monday to warn homeowners of how Assignment of Benefits abuse could cause insurance rates to skyrocket in Florida. Read more from Florida Politics here