Category: Florida and Insurance News

Irma Loss Increase Triggers Reinsurance Claim For Florida Citizens Florida Citizens Property Insurance is now expecting to make some Reinsurance Recoveries related to its Hurricane Irma Claims.  Trading Risk reports. America’s Flood Insurance Chief Has A Message For All Floridians: …

The Federal Railroad Administration should identify and adopt a method for systematically communicating information to railroads and use a risk-based approach to prioritize its resources and workload, the U.S. Government Accountability Office said.

Heritage Insurance Seeking Hefty Rate Hikes, Blames Claims Fraud Industry Officials blame Insurance Fraud tied to the “Assignment of Benefits” Crisis.  They add that further Rate Hikes stemming from Hurricane Irma last year will start hitting Consumers this summer.  The …

Attempt to Overhaul State’s No-Fault Auto Insurance System Fails in Senate Subcommittee The Legislation, one of House Speaker Richard Corcoran’s priorities, would have ended the State’s No-Fault Auto Insurance Law and moved Florida to an At-Fault System similar to those …

Demotech Holds-Off On Affirming “A” Ratings  A Company that rates many Florida Property/Casualty Insurers believes Hurricane Losses and Assignment of Benefits Litigation during 2017 could affect some Insurers’ Financial Ratings.  Insurance Journal’s Amy O’Connor reports. Citrus Re Florida Cat Bond …

New Educational Alliance Will Provide Resources to Inform and Educate Property Owners FORT LAUDERDALE, FLORIDA February 26, 2018 – The FAIR Foundation, a leading Florida-based consumer advocacy group and champion for creating safer, stronger and more resilient communities through consumer …

Coalition Enlists Consumer Testimony in Support of AOB Reform A Business Group pushing the House version of Assignment of Benefits Reform is releasing Video Testimonials by Consumers who feel they were harmed by AOB Abuse.  FloridaPolitics.com reports. Insurer Not Off Hook For …

Florida PIP Lawsuits Explode To Record A No-Fault Car Insurance System that was supposed to reduce Lawsuits in Florida has instead produced a record mountain of more than 60,000 in 2017, a New Report shows.   The Palm Beach Post’s Charles Elmore reports. …

Federated National Buys Monarch Delaware, Stake From TransRe Federated National Holding Company underwrites multi-Peril, personal automobile, commercial general liability, federal flood, and other lines of Insurance in Florida and other States.  The Intelligent Insurer reports. Governor Scott Announces Major Action …

Miami Roofing Company Owners Arrested Over $1 Million Workers’ Comp Scam Owners of a Miami roofing company have been accused of concealing nearly $1.2 million in payroll on their workers’ compensation policy renewal application in an alleged attempt to illegally …