Some Insurers Restricting Renewals, New Business in South Florida

Sun Sentinel  Ron Hurtibise  Some property insurance companies are not taking on new business in ZIP codes with high claims rates in South Florida and canceling or deciding not to renew customers in high-risk areas. The action is a result of rising water damage claims in the region, the same problem that is leading to…

Florida’s Citizens Says AOB Abuse to Blame for Statewide Rate Increase of 6.8%

Citizens Board of Governors has approved recommended rates for 2017 that equal an average rate increase of nearly 7 percent statewide. The company said the increase is a necessary response to rising non-weather water losses and assignment of benefit (AOB) abuse that is now affecting all regions of the state. By unanimous vote, board members…

Citizens Property Insurance Board of Governors Signs Off on Possible Rate Hikes

By Jim Saunders The News Service of Florida TALLAHASSEE — Pointing to a “crisis” in costly water-damage claims, the Citizens Property Insurance Board of Governors on Wednesday unanimously approved a proposed 6.8 percent statewide rate increase. The proposal would have varying effects for customers of the state-backed insurer, with some homeowners seeing premiums go up…

Are You Ready To Be #LightningSafe? Include A Lightning Protection System In Your Plans When Building Or Remodeling Your Home

Lightning Safety Awareness Week Is June 19–25 June 22, 2016 NEW YORK, June 22, 2016 — Whether building a new home, remodeling an existing home or even repairing a home that has been damaged, a lightning protection system can be a worthwhile investment, according to the Insurance Information Institute (I.I.I.). Damage caused by lightning, such…