Florida lawmakers have approved a plan designed to move more property owners into the private insurance market by restricting what properties the state-backed insurer can cover and allowing it to raise its rates. By a vote that fell along party …
It’s no secret that property/casualty insurers have been fielding more and more sinkhole claims in Florida and now online hazard mapping firm CDS Business Mapping and its RiskMeter Online service have come up with a list of the top 10 …
Citing sinkhole losses and higher operating expenses, State Farm Florida asked state regulators this week for a 28 percent premium increase on its homeowners policies. Sinkhole claims, which are approaching $2 billion over the past five years in Florida, have …
For the second straight week, the Florida Banking and Insurance Committee failed to reach a final vote on its comprehensive property insurance bill. The delay comes as committee members remain bogged down over how to address sinkhole claims; specifically, how …
Citing fourth quarter losses in Florida of $19 million, Mercury General said it would begin the process of withdrawing from the state’s homeowners insurance market. The company said it will send the mandatory 180-day advance notice of its intent not …
A 10-foot-deep, 20-foot-wide sinkhole has formed in an intersection in eastern Austin, Texas. Austin Water Utility officials tell the Austin American-Statesman that they expect the 30-foot-long sinkhole at the intersection of Mildred and Willow streets will take up to three …
State Farm of Florida is requesting a statewide average 27.7 percent homeowners insurance rate increase citing the rising costs of sinkhole claims. The request comes as Florida lawmakers are trying to broker a deal over how to address the rise …
Florida lawmakers are trying to address the cost of sinkhole claims, which state officials and insurers say are driving up property insurance rates and could threaten the solvency of some domestic insurers if not brought under control. The Senate Banking …
