SENATE WORKSHOP MAKES THE CASE FOR AOB REFORM TALLAHASSEE, FL, (January 10, 2017) – The Personal Insurance Federation of Florida today applauded the Senate Committee on Banking and Insurance for holding a workshop on property insurance and the problem of non-catastrophe water claims and related “assignment of benefit” abuse. During today’s presentation, critical evidence…
CBSMIAMI.COM: Facebook | Twitter TALLAHASSEE (CBSMiami/NSF) – 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 efforts to shed policies have already slowed…
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…
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…
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…
Citizen Property Insurance is in a crisis. And it has nothing to do with the usual suspects troubling the state-run homeowners insurance company: sinkholes or hurricanes. You can’t even blame Hurricane Matthew for this. Read Full Article
Palm Beach Post – August 30, 2016 State-backed Citizens Property Insurance Corp. is looking for a 9 percent increase from Palm Beach County homeowners – and an average 6.8 percent statewide – even though there hasn’t been a hurricane in more than 10 years. The reason has nothing to do with the ravages of nature.…
Palm Beach Post I recently attended a forum hosted by Florida’s Insurance Consumer Advocate Sha’Ron James in Boca Raton to discuss the explosion in insurance claims related to water damage. During the event, multiple speakers talked about problems associated with Assignment of Benefits (AOB), and how it is harming the insurance market and increasing rates…
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…
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…