News Source: CBS News Author: Kate Gibson Date: May 20, 2021 As another hurricane season barrels toward the Sunshine State, Florida regulators have cleared the way for three insurance companies to cancel, or decline to renew, policies for more than 50,000 homeowners that the companies say are too risky. State approval of the policy terminations…
News Source: CBS12 News Author: Lexi Nahl Date: May 18, 2021 Click the link to watch the full video. BOCA RATON, Fla. (CBS12) — Three major Florida-based insurance companies will be dropping tens of thousands of customers as hurricane season approaches. The companies, Universal Insurance Co. of North America (UICNA), Gulfstream Property & Casualty, and Southern…
Legislative AnalysisClick here to read FAIR’s analysis of the most relevant bills that passed during the 2021 Florida legislative session, including SB 76, SB 1598, and HB 1209.
News Source: South Florida Sun Sentinel Author: Ron Hurtibise Date: May 17, 2021 As insurers continue to bemoan heavy claims losses and litigation costs in South and Central Florida, state insurance regulators are allowing three companies to cancel or not renew thousands of policies, forcing those jilted customers to find new coverage weeks before hurricane…
News Source: South Florida Sun Sentinel Author: Ron Hurtibise Date: April 16, 2021 The next few days will determine whether Florida consumers will lose valuable property insurance coverage to insurers’ efforts to fight fraudsters who are driving up costs for everyone. Critics are warning about several insurance industry-backed reform proposals that have already been…
News Provided By: The Washington Post Author: Bobby Caina Calvan Date: April 8, 2021 TALLAHASSEE, Fla. — Legislation hailed as some of the most robust yet to defend U.S. coasts against sea level rise is headed to Florida Gov. Ron DeSantis, a proposal that would provide millions of dollars annually to communities threatened with…
News Provided By: The Hill Article Author: Rachel Frazin Date: April 1, 2021 The Federal Emergency Management Agency (FEMA) on Thursday unveiled changes to the National Flood Insurance Program that it says will be aimed at being more equitable. A fact sheet from the agency said that it will be able to do this by…
News Provided By: South Florida Sun Sentinel Article By: Ron Hurtibise Date: March 22, 2021 Homeowners worried they’ll have to foot most of the cost to replace their roofs if they get damaged should be able to relax for at least another year — unless they need to find a new insurer. The Florida House…
News Provided by: Florida Record Article by: Michael Carroll February 26, 2021 Restrictions on assignment-of-benefits (AOB) property insurance claims signed into law in 2019 have failed to control lawsuits blamed for pushing up insurance premium costs in Florida, according to a nonprofit insurance consumers group. The AOB reforms contained in House Bill 7065 attempted to…
Many Florida Homeowners Hit with Higher Insurance Premiums News Provided by: WKMG Orlando ORLANDO, Fla. – Sharon Landry says she “freaked out” when she opened her statement and saw the premium for her homeowner’s insurance policy surge. Her policy went from $1,318 to $2,153 a year, a more than 60% increase. “It kind of throws you…