A little more than a year ago, the Demotech financial rating firm ignited a storm of controversy in Florida when it sent letters to a reported 16 insurance carriers, warning that the companies were about to have their financial stability …
Shouts, shoves and chaos broke out and police had to be called when condominium owners in Pembroke Pines, Florida, objected to being shut out of an association meeting called to discuss higher fees due to spiking insurance premiums. Fortune magazine …
Florida’s property insurance market is showing more signs of life, with another company requesting a large takeout order from Citizens Property Insurance and two new companies entering the arena. Tampa-based HCI Group’s CEO Paresh Patel said in an earnings call …
Stakeholders near and far are hailing a near-record number of takeouts from Citizens’ Property Insurance Corp. as a sign that the troubled Florida insurance market is improving, even if it will likely mean higher premiums for homeowners. “This is what …
Republished from S&P Global Market Intelligence For the first time in three years, Florida’s struggling domestic residential property insurers have posted a quarterly profit, according to an analysis by S&P Global Market Intelligence. Excluding Citizens Property Insurance Corp., Florida property …
Two Florida Democratic state senators are hosting webinars this month and next on the state’s property insurance situation. “Homeowners Insurance 101: A Guide for Insurance Coverage,” a series of virtual town hall meetings, began Wednesday on the Florida Senate Democratic …
Despite years of complaints from Florida property insurers and some lawmakers that out-of-control claims litigation was destroying the industry, recent regulators’ reports about the reasons for insolvencies make little mention of the “L-word.” The omission has prompted some head scratching …
Florida property insurers now have a week to attest that they have and use claims-handling manuals that reflect industry practices and standards, the state Office of Insurance Regulation said in a bulletin. By Aug. 1, insurance carriers must submit a …
Florida regulators are reminding carriers that the deadline to participate in the November round of takeouts from Citizens Property Insurance Corp. is fast approaching. Carriers must submit an application by July 28, the Florida Office of Insurance Regulation said in …
One month after it announced it would stop writing new homeowner policies in Florida, Farmers Insurance now says it plans to cut back further on its presence in the hurricane-prone state. The Florida Office of Insurance Regulation said Tuesday that …
