Good news out of the Pelican State. While similar state-run insurance entities in Florida and Texas continue to grow at unsustainable paces, Louisiana Citizens Property Insurance Corp. has managed to reduce its policy count by 43% since its post-Katrina high …
The White House and U.S. Department of Homeland Security are expected to come forward in the coming days or weeks with a request to raise the National Flood Insurance Program’s borrowing authority, as the program appears certain to need additional …
Despite headlines being dominated by the ever-tightening presidential election, Citizens Property Insurance Corp. continues to make news in Florida. Last week, Citizens announced that it was eliminating its so-called “Corporate Integrity Office,” which serves as a kind of inspector general’s …
A coalition of business and consumer interests are pushing for rapid approval of a plan floated by Citizens Property Insurance Corp. to speed its depopulation efforts by offering loans to private insurers made out of Citizens’ own surplus as an …
The Florida Office of Insurance Regulation
Our friends at the Consumer Federation of America have issued yet another shocking new study. This one shows something that’s truly nefarious: that auto insurers use things like credit score, employment, and coverage history in determining rates. Furthermore, the CFA’s …
A few days back, Florida’s troubled Citizens Property Insurance Corp. announced a plan to “depopulate” its book of business through a program of loans to well-capitalized insurers. On its surface, this idea has a few merits. Depopulation of a residual …
The depopulation committee of Florida’s Citizens Property Insurance Corp. unveiled a plan yesterday designed to transfer about a third of the state-run insurer’s 1.4 million policies to private insurance companies over two years. The move comes a day after a …
Texas homeowner Jim Warner has been locked in a legal battle with State Farm over denial of insurance claims for the damages to his home from Hurricane Ike. That battle was just upgraded to a category five by the Travis …
It appears that Louisiana Citizens Property Insurance Corp. may not have to draw on its Pelican Re catastrophe bond, after all. In an interview with The (Baton Rouge) Advocate, Louisiana Insurance Commissioner Jim Donelon said he expects claims to the …
