As reported by FloridaPolitics.com earlier this week, the pool of applicants to replace outgoing Insurance Commissioner Kevin McCarty is so far anything but impressive. The applicant list stands at 32 interested parties, yet only three appear to be eligible based on the state’s pre-screening questions. On Tuesday, we learned that former Rep. Tom Grady would not be applying…
Former state Rep. Tom Grady on Monday said although he thinks being Florida Insurance Commissioner would be “an interesting job,” he doesn’t have any plans to try for the position. “I haven’t applied. I don’t expect to apply,” he told FloridaPolitics.com. “It was flattering to hear my name batted about as a leading contender.” Gov. Rick Scott…
The Federal Emergency Management Agency (FEMA) has responded to Florida’s request to review the National Flood Insurance Program (NFIP) rates but it may not be as forthcoming and helpful as Florida officials had hoped. In a letter dated Dec. 29, 2015 (see below), FEMA Deputy Associate Administrator for Federal Insurance and Mitigation Roy E. Wright…
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…
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…
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,…
TALLAHASSEE — After more than a decade as Florida’s chief insurance regulator, Kevin McCarty resigned Tuesday, nearly a year after he overcame a failed effort by Gov. Rick Scott to get rid of him. McCarty invited reporters from the Times/Herald and two other news outlets to his office to break the news of his departure,…
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…
The state’s personal-injury protection auto insurance system, known as “no-fault,” would end in 2019 under proposals ready to go before lawmakers. Rep. Bill Hager, R-Delray Beach, filed a proposal (HB 997) last week, two months after Insurance Commissioner Kevin McCarty tossed out the idea of, “Let’s just repeal PIP and do nothing,” as a way…
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…