June 22, 2020
Florida’s state-run Citizens Property Insurance Corp. has joined a chorus of insurance companies accusing the Strems Law Firm of lawsuit abuse. Citizens says it has lost millions of dollars due to an alleged scheme of “sham” claims by the law …
June 10, 2020
The Florida Supreme Court has granted an emergency request by The Florida Bar to immediately suspend an attorney who, with his firm, has filed thousands of assignment of benefit and first party lawsuits against Florida property insurers over the last …
June 3, 2020
From the threat of insurer ratings downgrades to mounting carrier losses because of excessive litigation to increasing insurance rates, Florida’s insurance market got off to a rocky start in 2020. Then came the COVID-19 global pandemic, causing further stress to …
June 2, 2020
Reinsurance coverage for the Florida Hurricane Catastrophe Fund will not be purchased for the upcoming hurricane season after overseers of the fund evaluated the market and found a lack of private capital availability. In a statement, John Kuczwanski, manager of …
May 12, 2020
Citizens Property Insurance Corp., Florida’s insurer of last resort, has moved forward with an independent study that will evaluate the insurer’s potential exposures from the state’s troubled property insurance market. The Citizens’ Board of Governors voted at its last meeting …
March 16, 2020
Lighthouse Property Insurance Corp. plans to acquire its sister carrier, Prepared Insurance Company (Prepared), from Prepared Holdings Group. Lighthouse is a Louisiana-domiciled property and casualty insurance carrier authorized to write policies in Louisiana, Texas, North Carolina and South Carolina. Prepared …
February 27, 2020
Auto and home insurer Windhaven Insurance has alerted its agents and employees in Florida that it is winding down the insurance operations of its entities, including Windhaven National Insurance Co., ClutchAnalytics and The Hearth Group, and that its assets are …
February 11, 2020
Although the 2019 hurricane season did not have a significant impact on Florida, loss creep from prior storms continues to weigh on reinsurers, leading to a likely rise in rates for the upcoming June renewal period. As noted in AM …
January 7, 2020
Plans to rehabilitate Florida auto insurer Windhaven Insurance Co. have been deemed “useless” and the company will instead be liquidated. In a Jan. 6 order, Leon County Court Judge Ronald W. Flury said the Florida Department of Financial Services, which …
December 20, 2019
Florida’s insurer of last resort Citizens Property Insurance Corporation will make shrinking its policyholder count a priority next year, despite potential headwinds that may come from Florida domestic carriers raising rates and restricting coverage. Prompted by a request from Florida …