Two bills designed to deal with Florida’s crumbling property insurance market have embarked on divergent paths in the state legislature as lawmakers approach the final weeks of the 2021 session. Senate Bill 76 and House Bill 305, both originally supported …
Florida’s insurer of last resort, Citizens Property Insurance Corp., has become the insurer of first resort as thousands of new policies flood into it each week and the private homeowners insurance market continues its downward spiral. “The reality is the …
Ratings agency Demotech has affirmed the ‘A’ ratings of the Florida homeowners carriers it rates, which account for approximately 66% of the state’s market, after review of 2020 year-end and projected Q1 2021 results. However, Demotech warned of tough times …
A measure that would shield businesses from COVID-related lawsuits could make it before the Florida Senate later this week, providing another key test for a measure that supporters assert will protect against frivolous lawsuits but that critics worry could give …
While carriers face growing financial losses in Florida’s distressed property insurance market, insurance agents are on the front lines trying to help their clients who are being hit with double-digit rate increases, non-renewals, coverage restrictions or refusals from the admitted …
Florida stakeholders are pushing hard for the Florida Legislature to enact property insurance reforms this year to help the state address what has been deemed a market crisis. Read on for what everyone from the state’s insurance consumer advocate, to …
In an effort to educate consumers about contractor fraud schemes that are contributing to increased insurance rates, Florida’s Insurance Consumer Advocate (ICA) Tasha Carter has launched a new educational initiative, Demolish Contractor Fraud: Steps to Avoid Falling Victim. The new …
Florida businesses would be protected from coronavirus lawsuits if they made a good effort to follow guidelines to prevent the spread of COVID-19 under a bill passed by the House on Friday. The House also passed a bill that would …
As the first insurer rating agency to review and rate independent, regional and specialty insurers, we have a unique understanding of niche markets and serve as a trusted resource to third parties seeking to utilize regional and specialty companies. The …
It’s the start of another Florida Legislative Session with a familiar theme — insurers pushing for reforms they say are needed to help the state’s distressed insurance market. Only this year the need is more urgent than ever, according to …
