Almost two decades after it was established by the Mississippi Legislature, a storm and flood-mitigation grant program now has some funding – $5 million to be transferred from the Mississippi Surplus Lines Association. “The Legislature didn’t appropriate the money. I …
Starting July 1, Florida insurance agents must have at least three appointments with authorized carriers before they can sell policies for the state-created Citizens Property Insurance Corp. That’s the mandate laid down by Florida House Bill 1503, signed into law …
North Carolina regulators last month announced that the state is now the third-largest domicile for captive insurance companies with more than 311 captive firms in the state, thanks in part to favorable premium tax rates, fees and capital requirements. But …
Corey Neal took over as executive director of the Florida Insurance Guaranty Association in early 2022, at the height of what many would say were some of the darkest days for the Florida property/casualty market. Two carriers had just been …
Multiple computer models from forecasting organizations across the globe have predicted a very active hurricane season starting next month, spelling trouble for Florida and much of the Eastern United States. The models aren’t wrong, said Phil Klotzbach, a senior research …
Net written premium in the U.S. workers’ compensation insurance market grew by just 1% from 2022 to 2023, a far smaller percentage than most other property/casualty lines. However, the workers’ compensation line remains the most profitable segment, with a combined …
The Federal Trade Commission’s recently approved ban on noncompete agreements likely won’t survive court challenges, but that doesn’t mean the ban won’t become a model for a number of state legislatures to follow in coming months. “We don’t see it …
The Florida Office of Insurance Regulation in recent weeks has fined five property and casualty insurers, including Heritage Property & Casualty Insurance Co., which was hit with a $1 million penalty for failing to properly handle hundreds of claims after …
The Florida Supreme Court has opened the door a little wider to wrongful death claims from people who weren’t married to victims at the time of injury, upsetting what defense lawyers said was a decades-old common-law practice. In Ripple vs. …
Property insurance groups on Wednesday applauded a decision by Fannie Mae and Freddie Mac to hold off on an apparent plan to scrutinize mortgages on homes that don’t carry full replacement-value insurance coverage. The decision by Fannie and Freddie to …
