As the 2018 hurricane season approaches, Chief Financial Officer (CFO) Jimmy Patronis reminds Floridians to contact his Disaster Fraud Action Strike Team (DFAST) if they suspect they may have fallen victim to insurance fraud...
Category: Insurance Regulatory News
If you thought sea-level rise was the greatest immediate threat to South Florida’s future, you may need to think again. There’s growing concern that the perception of the sea-level rise threat by insurers, banks and...
State regulators to meet over Florida Power and Light Hurricane Matthew refund
May 23, 2018
Category Archive - Seminars
State regulators will meet on June 5th to approve a settlement for Florida Power and Light. The utility provider is trying to settle overcharges that it made during Hurricane Matthew. It would result in $28 million refund to...
An area of low pressure is drifting in the northwest Caribbean and could develop tropical conditions while it travels into the Gulf of Mexico and toward the west coast of Florida by the end of the week, according to the...
CLEARWATER — Two Pinellas County homeowners are suing an insurance company, alleging refusal to apply payments for hurricane damage. Otoniel Perez and Olga Perez filed a complaint May 4 in Pinellas County Circuit Court...
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...
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...
FL Cat fund aims for $1 billion reinsurance buy at lower attachment
May 21, 2018
Category Florida Hurricane Catastrophe Fund
The Florida Hurricane Catastrophe Fund (FHCF) is expected to target a renewal of its $1 billion layer of reinsurance coverage at the mid-year, but the attachment point of the layer is expected to drop down as the Fund...
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...