Thanks to the mounting number of insolvencies of Florida property insurers in the last two years, the Florida Insurance Guaranty Association will have to borrow $150 million and extend a surcharge on policies through 2023. The FIGA Board of Directors …
The Georgia insurance commissioner is publicly shaming one of the country’s largest auto insurers after the carrier announced an average 25% rate increase in the state. “I am angry and disappointed that Allstate has chosen to exploit a loophole in …
The owners of one of the oldest insurance agencies in Texas must have felt pretty surprised when they were named in a federal lawsuit brought by an AIG company, alleging the agency was part of an elaborate fraud that forged …
As in many business and commercial liability disputes, it’s all about the wording of the contract, a Florida appeals court decided in a medical malpractice case that could affect hospitals’ relationships with their doctors. The Latisha Gradia vs. Baptist Hospital …
Tradespeople who call themselves and their workers “independent contractors” have long been an issue for the workers’ compensation industry, often cutting carriers out of premium and leaving injured workers without coverage. Some in the industry now worry, though, that at …
At a recent workshop held by the Florida Office of Insurance Regulation, a claims specialist for USAA summed up the conundrum that property insurers are about to face when asked to report the other side’s legal fees in claims disputes. …
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 Insurance Regulation on Tuesday filed notice …
The Demotech financial review firm has withdrawn the stability ratings for two more property insurance companies, Bankers Specialty Insurance and First Community, both part of Bankers Insurance Group.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 headquartered in Florida but write mostly in Louisiana. In …
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’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 downgraded. Demotech President Joe Petrelli said that the …
