It’s no secret that the U.S. property/casualty insurance industry does not always enjoy a sterling reputation among consumers. As one insurance professor recently put it, the industry’s rank in public opinion is somewhere between that of a personal injury lawyer …
Florida’s governor this week signed the Insurer Accountability Act and two other bills that put new restrictions on insurers and require premium discounts for homeowners’ wind-mitigation efforts. Senate Bill 7052 was passed this spring after the Florida Legislature approved controversial …
Two Florida-focused property insurers have announced they have completed their reinsurance programs, just days ahead of what some had warned would be a painful June 1 renewal deadline. Kin Insurance Inc., a tech and data-heavy, direct-to-consumer insurer with offices in …
Just as the plaintiffs’ law firm of Morgan & Morgan warned, the number of Florida lawsuits filed across the state has shattered previous records, topping 280,122 in April, the Florida Bar reported. That’s more than double the previous record set …
After five years of tweaks to Florida’s insurance and tort laws, all designed to reduce the vast amount of claims litigation and – eventually – bring down property rates, many in the industry argue that there’s still one big piece …
Five weeks after three independent adjusters told Florida lawmakers that insurance carriers have frequently doctored their damage assessment reports, the men said they’ve had no contact from state agencies about the allegations. And they’re now disputing assertions from state officials …
It took more than four months, but Fannie Mae and Freddie Mac have now agreed to accept an innovative but temporary solution to Florida’s property insurer rating predicament. The mortgage-buying giants on Wednesday sent letters to primary mortgage lenders, notifying …
Despite recent hurricanes in Florida, continued insurance claims litigation, and steadily rising reinsurance rates, insurers and reinsurers have reason to be optimistic about the next few years. Due to a variety of factors, including large loss events, the state is …
