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 …
Florida’s beleaguered insurance industry may have turned a corner in 2023, with net income in the black for the first time since 2016 and much smaller underwriting losses than in recent years, according to state regulators’ latest market stability report. …
It seems that few are safe from soaring property insurance rates in Florida, not even those with strong connections to a higher authority. The Crux, a Catholic news outlet, reported that the Catholic Church’s Pensacola-Tallahassee Diocese has been unable to …
ORLANDO – Just as some California insurance agents are expressing grave concerns about the future of that state’s insurance market, a number of Florida agents feel like they’ve turned something of a corner. “Things are getting better. They are,” said …
It’s no secret that the U.S. property/casualty insurance industry does not always enjoy a sterling reputation among consumers. As one insurance professor recently put it, the industry’s rank in public opinion is somewhere between that of a personal injury lawyer …
Florida’s governor this week signed the Insurer Accountability Act and two other bills that put new restrictions on insurers and require premium discounts for homeowners’ wind-mitigation efforts. Senate Bill 7052 was passed this spring after the Florida Legislature approved controversial …
Two Florida-focused property insurers have announced they have completed their reinsurance programs, just days ahead of what some had warned would be a painful June 1 renewal deadline. Kin Insurance Inc., a tech and data-heavy, direct-to-consumer insurer with offices in …
Just as the plaintiffs’ law firm of Morgan & Morgan warned, the number of Florida lawsuits filed across the state has shattered previous records, topping 280,122 in April, the Florida Bar reported. That’s more than double the previous record set …
