Latest Florida Headlines
All the headlines from our Florida Topic Page, ordered by recency.
FBI: Firm Chaired by Former Florida House Speaker Billed County for Hurricane Cleanup
Aug 16 2022 // A Florida company with a former House speaker as a top executive allegedly charged local government millions of dollars for Hurricane Michael cleanup that it never performed, according to an FBI affidavit that was released...
$16 Million Part of Federal Funding to Aide Florida with Affordable Housing
Aug 15 2022 // The U.S. government is providing almost $12 million to help residents pay rent and mortgages in south Florida, a place that has been called the epicenter of the nation’s affordable housing crisis. The South Florida...
Florida’s Citizens Tops 1 Million Policies, Making it Largest in State by a Third
Aug 12 2022 // Florida’s Citizens Property Insurance Corp., created by lawmakers as a last-resort option, has become the largest property insurer in the state with more than 1 million policies in force – and growing. Stakeholders...
Florida Claims Litigation Dropped in July, but AOB Share Continues to Rise
Aug 11 2022 // The volume of claims litigation in Florida rose in June then declined in July by almost the same amount. But the share of cases that are assignment-of-benefits claims rose to the highest level since early 2021, a...
Florida’s Heritage, UPC Report Losses, Changes for Q2; No Word on UPC Sale
Aug 9 2022 // Two major Florida P&C insurers have announced second-quarter financial results. The news is a mixed bag, and was not unexpected. In an earnings call Monday, executives with publicly traded United Insurance Holdings...
Florida’s Ag Commissioner Wants Lower Retention for Cat Fund
Aug 8 2022 // Florida’s agriculture commissioner, a Democratic candidate for governor, is on board with what many in the insurance industry have been asking for: utilizing the state’s hurricane catastrophe fund to provide...
Experts: Southwest Florida to See Daily Tidal Floods by 2100
Aug 8 2022 // In the year 2100, Fort Myers, Florida will see only one day in which nuisance high tide flooding isn’t an issue. And Naples will be flooded by incoming tides every day, according to the latest tide predictions coming...
Eight Contractors Charged in Florida Workers’ Comp Sting Operation
Aug 4 2022 // Eight Florida men have been charged with contracting without a license and failing to obtain workers’ compensation insurance, after a sting operation led by state and local authorities. The Manatee County...
Weston Insurance Becomes Fifth Florida Insurer to Go Insolvent This Year
Aug 4 2022 // Weston Property & Casualty Insurance Co. is insolvent and should be placed into receivership, making it the fifth Florida property insurer this year to be dissolved, according to state regulators. The Florida Office of...
Two Bankers Insurance Firms Withdraw Ratings; Florida OIR Offers Info on Backstop
Aug 3 2022 // The Demotech financial review firm has withdrawn the stability ratings for two more property insurance companies, Bankers Specialty Insurance and First Community, both part of Bankers Insurance Group. The companies are...
Demotech Downgrades Three in Florida; AM Best, KBRA Say They’re Available
Aug 2 2022 // Just two weeks after the Demotech financial rating firm set off a firestorm of controversy by warning that it could soon downgrade as many as 17 Florida property insurers – then promised to hold off – the firm has now...
Florida People Moves: DeSantis Reappoints Knight to Citizens Board
Aug 1 2022 // Florida Gov. Ron DeSantis has reappointed venture capitalist Erin Knight to the Citizens Property Insurance Corp. board of governors, the governor’s office announced. Knight Knight, of Coral Gables, was appointed a...
Another View on Florida Ratings Flap; and Petrelli Calls Citizens Re Idea ‘Creative’
Aug 1 2022 // The recent brouhaha regarding Demotech and its Financial Stability Ratings (FSRs) of as many as 20 Florida insurers has now come full circle…almost. One important question remains unanswered. Before answering the...
Florida Regulators, FAIA Slam Demotech for Reported Plans to Downgrade 17 Carriers
Aug 1 2022 // Florida’s top insurance regulators and the Florida Association of Insurance Agents in late July blasted the Demotech financial rating firm after the organization reportedly notified 17 insurers that they will soon be...
Another One: American Traditions Stops New Business in Florida
Jul 28 2022 // Another property insurer has halted writing new policies in Florida. For homeowners, condominiums and rental properties, “new business will be paused temporarily until further notice,” American Traditions...
United P&C Completes Florida Restructuring Amid Catastrophe Losses
Jul 28 2022 // United Insurance Holdings, parent of United Property & Casualty Insurance, said it has completed most of its major reorganization plan, consolidating its four Florida-based carriers into two. The news was accompanied...
Insureds Can’t Block Repairs Then Sue Insurer, Florida Appeals Court Agrees
Jul 28 2022 // Insureds cannot recover damages from the insurance company if they failed to comply with the policy and failed to allow the insurer to make the needed repairs, a Florida appeals court decided Wednesday. Florida’s 3rd...
Florida Regulators Unveil Ratings Crisis Solution: Let Citizens Reinsure Carriers
Jul 27 2022 // Florida’s insurance commissioner announced today that his office has found an “unprecedented solution” to the looming property insurer rating crisis – let Citizens Property Insurance Corp. provide a...
Crist Slams DeSantis for Florida Insurance Crisis; Fried Blames Crist
Jul 27 2022 // U.S. Rep. Charlie Crist, the Democratic frontrunner for governor of Florida, this week sharply criticized incumbent Gov. Ron DeSantis for failing to solve the state’s property insurance crisis. “Ron DeSantis...
Demotech Holds Off as Florida Divides on Planned Downgrades
Jul 26 2022 // Rating Firm Postpones Ratings for 17 Carriers After Backlash The property insurance community has divided into two camps after the firestorm that erupted over the potential financial rating downgrades for 17 Florida...
