Category: Florida Insurance and Political Headlines

Will Florida disaster contracting issue raise a storm of controversy?

Apr 5, 2018

How does Florida go from the gold standard in disaster response to creating a man-made disaster when it comes to dealing with the aftermath of major storms?  FloridaPolitics.com Publisher Peter Schorsch reports. http://floridapolitics.com/archives/260597-will-disaster-contracting-issue-raise-a-storm-of-controversy

FEMA to Issue First Catastrophe Bond for Flood Insurance Program

Apr 5, 2018

In another step shifting risk to private markets, the Federal Emergency Management Agency said it intends to secure additional reinsurance for the National Flood Insurance Program through issuance of a catastrophe bond.  Insurance Journal’s Andrew G. Simpson reports. https://www.insurancejournal.com/news/national/2018/04/05/485448.htm

California Remains Largest U.S. Insurance Market

Apr 5, 2018

California Insurance Commissioner Dave Jones announced today that California’s annual insurance premium volume has increased to $332 billion. California is now the third largest insurance market in the world and remains the largest insurance market in the United States. http://www.insurance.ca.gov/0400-news/0100-press-releases/2018/release034-18.cfm

Demotech Affirms “A” Ratings of Florida Insurers

Apr 4, 2018

Demotech will not downgrade any of the 16 Florida insurers that it said earlier this year could face financial stability ratings adjustments because of hurricane losses and assignment of benefits litigation during 2017.  Insurance Journal’s Amy O’Connor reports.   https://www.insurancejournal.com/news/southeast/2018/04/04/485234.htm