Category: Florida News

Citizens Property Insurance is poised to delay a 7.9 percent rate increase for policyholders, after some board members suggested Tuesday another rate hike may be too soon following a May 1 increase. The Citizens Board of Governors, which oversees the …

State-owned Citizens Property Insurance Co. is once again seeking to increase annual rates by about 10 percent — the maximum allowable by state law — while blaming “skyrocketing nonweather related water loss claims in South Florida.” Yet according to Citizens’ …

If you’re looking for new reimbursement manuals that detail changes in Florida’s medical fee schedules, don’t bother, the Florida Division of Workers’ Compensation said this week. The Legislature this year failed to approve the new fee schedules, so the current …

Florida employers will save nearly $20 million in workers’ compensation premiums next year because of “sound financial management” of the state’s two compensation trust funds, Chief Financial Officer Jimmy Patronis said Wednesday. “Just last month, we announced that a 1.8 …

Lobbyists representing clients before the state-backed Citizens Property Insurance Corporation will soon have to disclose their efforts publicly. Citizens President and CEO Barry Gilway told Chief Financial Officer Jimmy Patronis at a Wednesday Cabinet meeting that a new lobbying disclosure …

Hurricane Irma-related lawsuits surged at Citizens Property Insurance Corp. early this year, representing a nearly 50 percent increase in the company’s litigation load compared to the same period in 2017.  More than 90 percent of those lawsuits originated in South …

The assessment for the Workers’ Compensation Administration Trust Fund will drop, from 0.97% to 0.90%, for calendar year 2019, the seventh straight decrease, the Department of Financial Services announced in a bulletin. For insurance carriers, the assessment is based on net …

A restoration contractor company owner has been arrested over an alleged assignment of benefits (AOB) fraud scheme that impacted 19 homeowners in eight Florida counties and one Texas county, according to a statement from Florida Chief Financial Officer (CFO) Jimmy …

With hurricane season under way, home buyers who plan to get flood insurance through the federal government might want to speed up their purchasing process. Unless Congress takes action, the National Flood Insurance Program will lapse at midnight on July …

Damaged roof tiles didn’t exceed your $6,000 deductible? Whip out the credit card.  Evacuating and need gas and lodging? Hit the ATM on the way out of town. Now, homeowners can buy coverage that fills in those gaps. A new …