Did State Farm Insurance employ a clever device to reduce its payout – sometimes to zero – on thousands of property claims in Alabama? The insurance company has denied underpaying claims and other wrongdoing, but has agreed to settle a …
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 District Court of Appeal upheld …
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 level of reinsurance to companies in case they are downgraded, at least …
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 insurance carriers. One camp argues that the Demotech …
The plaintiffs’ lawyer that Florida insurers love to hate could see his two-year suspension completed soon. But allegations by the state Bar could result in new sanctions or further suspension. A 25-page complaint charges that Miami attorney Scot Strems and …
Florida’s top insurance regulators and the Florida Association of Insurance Agents on Thursday blasted the Demotech financial rating firm after the organization reportedly notified 17 insurers that they will soon be downgraded. Demotech President Joe Petrelli said Thursday evening that …
In 2021, Florida’s domestic property insurers spent more than $3 billion on legal defense costs and containment – double the figure reported in 2016. That’s one jaw-dropping but not surprising takeaway from the Florida Office of Insurance Regulation’s recently posted …
A Florida law firm that has made a lucrative business out of the Medicare Secondary Payer Act – and disrupted the auto insurance industry in the process – has scored another victory at the federal appeals court level. The 11th …
Starbucks Corp. has appealed a nearly $9 million verdict rendered against it after a customer was struck by a vehicle in the drive-through lane at a Fernandina Beach, Florida, coffee shop. The driver and the property owner settled claims against …
Insurers and government self-insurance pools should be breathing a sigh of relief after the Alabama Supreme Court absolved a county commissions’ fund of direct liability in a marina fire that killed eight people and destroyed three dozen boats. The court …
