South Florida’s commercial insurance rates have “dodged a bullet” after weathering a series of natural disasters. It was expected for rates to spike from 10% to 25% in 2018, but after the first quarter, the increases...
Category: Florida Insurance and Political Headlines
FL Appellate Court: Homeowners can’t recover if water damage repaired before contacting insurer
May 22, 2018
An appellate court in Florida has ruled that homeowners who repaired water damage to their home before filing a claim with their insurer could not recover their loss under their policy because they had prejudiced their...
Memorial Day Weekend: Tropics Active in Recent Years
May 22, 2018
Memorial Day weekend and hurricane season might not sound like they belong in the same sentence together, but recent years have shown us how the tropics can ruin the unofficial start of the summer. Two of the past six years...
Florida CAT Fund healthy; considers what-if scenarios
May 21, 2018
Category Florida Hurricane Catastrophe Fund
The Florida Hurricane Catastrophe Fund has reserves enough to easily cover its Hurricane Irma liabilities — as much as $300 million in excess of its $17 billion statutory liability limit. But what happens if a major storm...
Gov. Scott announced this week that the Department of Economic Opportunity had submitted a plan that would see Florida use $616 million in federal disaster recovery funds to build new affordable housing and provide grants to...
Capital City prepping for Hurricane Season
May 21, 2018
Hurricane season is just around the corner, and the City of Tallahassee is encouraging residents to learn and prepare at a June 2 event. The fourth annual “Build Your Bucket” disaster preparedness expo will run from 9...
CFO seeks Citizens’ lobbying disclosure transparency
May 21, 2018
Chief Financial Officer Jimmy Patronis is trying to bring the public into his campaign to force disclosure of lobbying targeting Citizens Property Insurance Corp., Florida’s property insurer of last resort. Patronis wrote...
Expansion, greater diversification and focus away from Florida may have helped Heritage at its latest reinsurance renewal, which the firm says it has achieved at attractive pricing. Artemis.bm reports....
“Sovereign immunity,” a legal fiction as outdated as the divine right of royalty, explains the harsh warning that the families of Marjory Stoneman Douglas High School have been hearing from the Broward School District’s...
California, Texas, Florida and New York suffered the greatest financial losses due to cybercrime in 2017, according to the FBI’s annual Internet Crime Report. State Scoop’s Benjamin Freed has the story....