Insurance Journal, Amy O’Connor August 23, 2017 Just a day after being downgraded by ratings agency Demotech, Florida-based insurer Sawgrass Mutual Insurance Company has revealed it is under administrative supervision by the Florida Office of Insurance Regulation. According to an amended consent order for administrative supervision dated Aug. 22, 2017, Sawgrass notified OIR of a…
Lisa Broadt, lisa.broadt@tcpalm.comPublished 2:42 p.m. ET Aug. 18, 2017 | Updated 9:07 a.m. ET Aug. 19, 2017 Treasure Coast and Space Coast property owners now can find out if their flood insurance premiums are likely to increase next year. Six years after initiating a review, the Federal Emergency Management Agency earlier this summer released draft updated coastal hazard…
Posted by Alex Daugherty on Tuesday, Aug. 29, 2017 at 6:42 PM @alextdaugherty For months, political foes like Marco Rubio and Elizabeth Warren united behind a push to overhaul the nation’s flood insurance program by capping annual premium increases and focusing on preventing damage in future floods. Hurricane Harvey could change all of that. Congress has spent most of 2017…
By Malena Carollo, Times Staff Writer Wednesday, August 23, 2017 5:08am TALLAHASSEE — Three months ago, state regulators weren’t tracking a surge in broken auto glass claims, particularly in Tampa Bay. The issue has their attention now. “There’s a lot more (assignment of benefits)-related litigation in the windshield space than in the property space,”…
Sun Sentinel By Ron Hurtibise August 21, 2017 A new front has opened in the ongoing battle between repair contractors and the insurance industry, and this time ground zero isn’t South Florida. Lawsuits between independent auto glass repair businesses that replace cracked and broken windshields and auto insurers that pay for them have increased dramatically…
Florida Politics, Peter Schorsch August 17, 2017 State Sen. Tom Lee of Thonotosassa has never been shy about discussing his ambition to become Florida’s Chief Financial Officer, but he has stopped short of formally declaring his candidacy to run in 2018. That likely is about to change. “It’s my intention to run for the Republican nomination (for…
The Florida Office of Insurance Regulation (Office) will conduct a rate hearing to receive public comment for Citizens’ proposed rate changes at 4:00 p.m. on Wednesday, August 23, 2017. The hearing will be held at Florida International University’s Kovens Conference Center (Biscayne Bay Campus) located in North Miami, Florida, and will be streamed live online…
TALLAHASSEE, Fla. – Insurance industry groups are backing a Florida state senator’s reintroduction of legislation intended to reduce water damage claims litigation by preventing attorney fee awards in cases involving assignment of benefits to third parties. Senate Bill 62, offered by Republican Sen. Dorothy Hukill, is the same legislation she offered for the 2017…
Alan Gomez, USA TODAY 10:44am, August 10, 2017 Before Hurricane Katrina, before Superstorm Sandy, there was Hurricane Andrew. The intense Category 5 hurricane, a compact buzzsaw that ripped the roofs off thousands of South Florida homes 25 years ago, was so catastrophic that it led to sweeping changes in the insurance industry, weather forecasting and disaster response. And Floridians…
August 9, 2017 Miami Herald By Jennifer Kay, Associated Press Twenty-five years after Hurricane Andrew struck south of Miami, the city’s vulnerability to catastrophic storm damage has grown exponentially, according to a new insurance underwriters’ analysis. At the time, the Category 5 storm was the most expensive natural disaster in U.S. history, causing more than $26 billion…