TALLAHASSEE — There is little relief coming for homeowners facing crushing rate increases after being nudged (some would say shoved) out of the state-run property insurance company. And those left in Citizens Property Insurance Corp. could be facing big increases of their own because of another failure in the Legislature. In short, it was a…
Six Questions To Help Consumers Decide When To Purchase Travel Insurance April 5, 2016 NEW YORK, April 6, 2016 — Travel insurance can’t prevent bad things from happening on a vacation, but it may be able to protect your financial investment, according to the Insurance Information Institute (I.I.I.). “For many consumers worried that an extreme…
Hurricane Season Is Less Than Two Months Away, And Policies Have A 30-Day Waiting Period April 4, 2016 FOR IMMEDIATE RELEASE New York Press Office: (212) 346-5500; media@iii.org NEW YORK, April 4, 2016 — Nine out of 10 natural disasters in the United States involve flooding, yet less than 15 percent of the nation’s homeowners…
Sen. Don Gaetz Guest column Like the mongoose and the cobra, politicians and the media are natural enemies, watching each other warily and always ready to strike at the other’s vulnerabilities. So it was an uncomfortable moment for some in the political establishment when state Rep. Ritch Workman of Melbourne and I introduced anti-corruption legislation…
DES PLAINES, Ill., March 30, 2016 — The National Insurance Crime Bureau (NICB) reports today that from January 1, 2014 through December 31, 2015, a total of 2,792,331 water damage claims were filed across the United States. In 2015, there were 1,403,054 water damage claims filed—an increase of just 1 percent over 2014’s total of…
By Harold Bubil , Herald-Tribune Wednesday, March 23, 2016 ORLANDO — After Hurricane Ike’s storm surge virtually wiped out all the beachfront houses east and west of Galveston, Texas, in 2008, FEMA came to the rescue and bought what was left of the first and second houses along the beachfront, and for pre-Ike values. FILE…
President Obama arrived in Cuba, becoming the first United States president to visit the large Caribbean island nation since Calvin Coolidge in 1928. The historic trip comes 15 months after Obama announced the restoration of diplomatic ties between the U.S. and Cuba. In the push to normalize relations with the communist-led government in Havana, U.S.…
Following the 2016 Florida Legislative Session’s failure to pass essential assignment of benefit (AOB) reforms, the insurance industry and Citizens Property Insurance Corp. are working in tandem with the Florida Office of Insurance Regulation (OIR) to find workable administrative measures to help combat this kickback-driven lawsuit-for-profit scheme. The sad truth is AOB abuse is organized…
By Jim Turner The News Service of Florida Published: Tuesday, March 29, 2016 at 6:36 p.m. Last Modified: Tuesday, March 29, 2016 at 6:36 p.m. TALLAHASSEE — The state has resumed its search for a new insurance commissioner after Gov. Rick Scott and Chief Financial Officer Jeff Atwater could not reach agreement Tuesday. Atwater recommended…
State Rep. Bill Hager and Jeffrey Bragg, who ran a federal terrorism risk insurance program, have made the short list to become Florida’s next insurance commissioner. The two, and maybe others, are expected to be interviewed — before one is possibly offered the job — by Gov. Rick Scott and state Cabinet members Tuesday. Meanwhile,…