Water Claims Could Lead to More Citizens Policies

By Jim Turner, The News Service of Florida TALLAHASSEE, Fla. – Increases in water-damage claims — primarily in South Florida — will likely reverse years of downsizing by the state-backed Citizens Property Insurance, board members were advised Wednesday as they approved a hike in the corporation’s operating budget. Citizens President and CEO Barry Gilway said…

Litigated Water Claims, ‘Assignment of Benefits’ (AOB) to Top Citizens 2017 Challenges

Florida Trend – News Release Rising water claims and “out of control” litigation threaten the Citizens Property Insurance Corporation’s long-term financial stability and will stifle efforts by Citizens to offer premium breaks to policyholders in 2017, Citizens leaders stressed during a governing board meeting on Wednesday. Barring significant changes, including possible legislative action on assignment…

Insurer Citizens Expects to Grow in 2017, Entering ‘Different Stage’

Palm Beach Post – Charles Elmore After years of jettisoning customers, Florida’s last-resort insurer expects to get bigger in 2017 — returning to more than half a million policies. “We’ve entered a different stage,” Citizens Property Insurance Corp. president Barry Gilway told the company’s board in a meeting Wednesday. “There’s very little interest in depopulation.”…

CFO Jeff Atwater and Commissioner David Altmaier to Host Insurance Roundtable Marking the End of Hurricane Season

ST. AUGUSTINE, Fla. – On Friday, December 2, 2016, Florida Chief Financial Officer Jeff Atwater and Insurance Commissioner David Altmaier will host a roundtable discussion focused on the 2016 Atlantic Hurricane Season, which ends today, November 30. Insurance company executives will join local leaders to discuss Hurricanes Hermine and Matthew, two storms that ended Florida’s…

Pricier Than Necessary Hurricane Repairs in St. Johns County Could Become a Concern, Official Says

St Augustine Record – Sheldon Garner As people work to return to their homes impacted by Hurricane Matthew, some might end up being charged more than they should for repair work or running into other problems. With pressures surrounding rebuilding and being displaced after a storm, it becomes common to hear stories of homeowners who…

Hurricane Matthew Property Damage? Important Information from Florida’s Consumer Protection Coalition

Florida’s Consumer Protection Coalition offers the following suggestions for what to do if your property has suffered hurricane damage: If your home or apartment suffers damage from Hurricane Matthew, contact your insurance agent or your insurance company first and as soon as possible. They are in the best position to assist you quickly. Do not…

Insurers Say They’re Ready to Pay Claims No Matter What Happens with Matthew

Hurricane Matthew could be the first major test of claims-handling capabilities by numerous young insurance companies created since the 2004-05 run of hurricanes that ended with Wilma. And with Matthew’s path still uncertain but looking likely to impact the state, insurers are urging policyholders to protect themselves and their properties while assuring they stand ready…