Lawmakers: Regulation Will Ensure Umpires Make The Right Call—On Insurance Appraisals

Lawmakers are looking into new rules for umpires. No, not that kind—property insurance appraisal umpires. If you’re wondering what in the world a property insurance appraisal umpire could be. Don’t worry. You’re not the only one who’s confused. Lawmakers in the Senate Regulated Industries Committee spent more than an hour questioning the Rep. Frank Artiles…

AOB Fraud and Abuse: Suspicious Activity is a Pocketbook Problem for Florida Families

The most recent edition of the Florida Chamber of Commerce’s exclusive member newsletter Chamber Insider highlights efforts to help consumers fight fraud and abuse associated with Assignment of Benefits (AOB). While AOB is a legal tool that can be used appropriately, it also provides an opportunity for shady repair companies to partner with trial attorneys…

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…