The Florida Office of Insurance Regulation is reminding property insurers that they must report Hurricane Idalia claims information daily, starting Friday. The data should be submitted by noon Eastern time, every day, including Saturday and Sunday, through Sept. 6, the …
The Auto Club Insurance Company (AAA) of Florida has announced that it will not renew a “very small percentage” of auto and home insurance package policies in Florida. But, the insurer stressed, it is not leaving the state — it’s …
Two back-to-back federal court decisions may have dealt a lethal blow to recent proposed class actions that sought interest on property insurers’ late claims payments. But the rulings have left some insureds and their attorneys feeling that they’re seeing another …
In 2015, the Shilo Christian Center in Melbourne, Florida, cut its property insurance premiums in half by asking its insurer to drop coverage for named windstorms. Hurricane Matthew struck the next year, ripping the roof of the church and unleashing …
Citizens Property Insurance Corp. will face a new trial on a roof claim because its win in the first trial was compromised by reliance on hearsay evidence. A three-judge appeals panel has ordered a retrial because in the previous proceeding …
In the celebration over the Florida Legislature’s sweeping insurance reforms approved last month, one statutory change has slipped under the radar a bit – one that insurance attorneys said will streamline the settlement process and could help reduce litigation. Among …
Florida’s insurance commissioner announced today that his office has found an “unprecedented solution” to the looming property insurer rating crisis – let Citizens Property Insurance Corp. provide a level of reinsurance to companies in case they are downgraded, at least …
The Florida property insurance market is showing more signs of trouble, with one of the state’s largest carriers deciding to stop writing new homeowner business in the state – while also asking for a rate increase on some policies. United …
It’s not just a few Florida property insurance companies that are running into financial trouble. Almost every carrier is losing money in 2021 and the future does not look any better, the CEO of Citizens Property Insurance Co. told lawmakers …
Check out Insurance Journal’s recent special edition on Florida including a special report on new legislation to help Floridians who are battling the state’s property insurance crisis. This legislation aims to solve some of the issues plaguing Florida’s homeowners insurance …
