Florida’s largest property insurer is preparing to transfer $3.1 billion in risk through a combination of reinsurance catastrophe bonds, including a $1.5 billion deal that is the largest of its kind on record. The Citizens Property Insurance Corp. board of …
A Florida circuit court has found that a condominium owner’s property policy did not include coverage for the “explosion” of an advanced decompose body since it did not fall under a name peril listed in the insured’s policy. Florida’s Fourth …
The Florida legislature has approved legislation setting out new insurer solvency requirements while also requiring individuals to disclose information about any affiliated company. Sponsored by Senator David Simmons (R-Altamonte Springs) and Representative Clay Ingram (R-Pensacola), the bill (SB 1308) closely …
Florida’s largest property insurer is preparing to transfer $3.1 billion in risk through a combination of reinsurance catastrophe bonds, including a $1.5 billion deal that is the largest of its kind on record. The Citizens Property Insurance Corp. board of …
Florida lawmakers have approved legislation that supporters say will uphold a policyholder’s constitutional right to bear arms by preventing insurers from using gun ownership in underwriting. The Florida House of Representatives by a 77 to 44 margin signed-off on the …
A Florida property insurer that provides insurance coverage to 128,000 homeowners is planning to go public by issuing an initial public offering (IPO) that could result in the insurer raising up to $100 million in new capital. Heritage Insurance Holdings, …
Florida’s state-backed property insurer is seeking to control its operating costs by consolidating its office space, a move expected company officials say could save almost $12 million over the next five years. Citizens Property Insurance Corp. currently has offices in …
Mississippi’s insurance regulator is withdrawing his lawsuit against the federal government after Congress voted to delay changes to the federal flood insurance program. Mississippi Insurance Commissioner Mike Chaney said he is withdrawing the suit aimed at stopping flood insurance premium …
South Carolina lawmakers are moving forward with a plan to increase grants to homeowners who strengthen their homes against storm damage. The South Carolina Senate Finance Committee approved the “Competitive Insurance Act,” which will provide $1.6 million additional funding for …
Florida’s state-backed Citizens Property Insurance Corp. says the initial opening of its new web-based clearinghouse designed to make it easier for private insurers to write its policies has been promising, although the number of policies removed by insurers has been …
