Palm Beach Post – Charles Elmore After years of jettisoning customers, Florida’s last-resort insurer expects to get bigger in 2017 — returning to more than half a million policies. “We’ve entered a different stage,” Citizens Property Insurance Corp. president Barry Gilway told the company’s board in a meeting Wednesday. “There’s very little interest in depopulation.”…
ST. AUGUSTINE, Fla. – On Friday, December 2, 2016, Florida Chief Financial Officer Jeff Atwater and Insurance Commissioner David Altmaier will host a roundtable discussion focused on the 2016 Atlantic Hurricane Season, which ends today, November 30. Insurance company executives will join local leaders to discuss Hurricanes Hermine and Matthew, two storms that ended Florida’s…
Bloomberg.com Hermine, the first hurricane to strike Florida since 2005, probably caused less than $400 million in insured damage, according to risk-modeling company RMS. As much as 70 percent of the expense will be tied to residential properties, and insurers will also pay claims related to business interruption and vehicle damage, RMS said in a…
Palm Beach Post – Charles Elmore Florida’s more than 15 million drivers could save an average of $81 a car — if the state drops its costly and troubled no-fault Personal Injury Protection system after four decades, a study released Wednesday shows. That amounts to about $1 billion a year in savings for Florida households,…
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.…
Jenny Staletovich, Miami Herald Florida’s lucky streak could be coming to an end. In a mid-season update to their Atlantic hurricane projection, forecasters Thursday called for a higher chance of more storms with the fizzling of an intense El Niño and additional hurricane-conducive conditions shaping up. The National Oceanic and Atmospheric Administration said it now…
Sunshine State News – Allison Nielsen Drivers beware: Florida has the worst drivers nationwide, according to a new in-depth analysis from SmartAsset. Sitting in traffic in various parts of Florida from I-95 to the I-4 corridor can be rage-inducing for many drivers. Highway driving often turns into a brush with fate in the Sunshine State,…
SaintPetersBlog – Lloyd Dunkelberger The Citizens Property Insurance Corp. board of governors Tuesday approved a $1.8 million contract with a company that will examine escalating water damage claims from policyholders and determine whether the charges are excessive. “The goal is to identify inflated or excessive charges on invoices from contractors that have performed water damage…
The Insurance Journal Florida insurance agents are trying to bolster the industry’s track record in attracting college graduates by employing a new state law that aligns college courses with the state’s licensing requirements. The insurance workforce development law, passed in 2015, gives the insurance industry an opportunity to catch up with what other industries have…
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…