Low Interest Rates, Diminishing Reserves Will Continue to Challenge Property/Casualty Insurers in 2016, Say CEOs at Joint Industry Forum

NEW YORK, January 19, 2016 — A panel of prominent property/casualty insurance executives forecast a challenging 2016, as the diminishing tailwinds of reserve releases struggle against headwinds of low interest rates. The five senior executives gave their forecast and other market insights at the 20th annual Property/Casualty Joint Industry Forum, held here on January 12,…

Fraud Pushing Up Premiums In Florida

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 related water claims. In many cases, these claims are pushed along by unscrupulous contractors and attorneys. According to Citizens Property Insurance…

Citizens Board Hailed for Taking Action to Curb Increase in Costly Water Damage Insurance Claims

Business leaders encourage lawmakers to rein in AOB abuse during 2016 session TALLAHASSEE, Fla., Dec. 9, 2014 – Citizens Property Insurance Corp. today took important steps toward addressing problems associated with fraudulent water damage claims that are resulting in higher insurance costs for its policyholders, particularly in South Florida. Citizens’ Board of Governors approved policy…

Senate Again Focused on Uber Driver Insurance

By JIM TURNER THE NEWS SERVICE OF FLORIDA THE CAPITAL, TALLAHASSEE, December 8, 2015……….The Senate isn’t ready to match a House proposal that would prevent local governments from regulating popular app-based transportation services, such as Uber and Lyft. Senate President Andy Gardiner, R-Orlando, said Tuesday his chamber will again focus during the 2016 legislative session…

Consumer Advocate Challenges Insurers on Water Damage Claims

Florida’s new insurance consumer advocate wants property insurance companies to produce data to back up their statements about rising water damage claims in South Florida. Sha’Ron James, who took over the statewide position in August, told participants at a public workshop Tuesday that she has asked the top 15 insurers to document their assertions that…