BRADENTON, Fla. – A bill making its way through the final days of the Florida legislative session would vastly expand the financing power of the Florida Development Finance Corp. House Bill 7067, a major economic development bill, was amended in recent weeks to give FDFC the ability to issue bonds statewide without local government approval.…
TALLAHASSEE — Gov. Rick Scott and Cabinet members voted Tuesday to bolster the state’s catastrophic insurance fund with $2.2 billion of added coverage in advance of what forecasters predict will be another quiet hurricane season in Florida. State financial experts say the cost to a typical policyholder will be “minimal,” or a premium increase of…
On Tuesday, executives from the Florida Hurricane Catastrophe Fund recommended to the state Board of Administration, consisting of Gov. Rick Scott, Chief Financial Officer Jeff Atwater and Attorney General Pam Bondi, that they approve the purchase of billions of dollars of reinsurance from the private market. I believe the proposed risk transfer is a violation…
FORT LAUDERDALE, FL – Frances, Jeanne and Wilma; sounds like it could be a gathering of gal pals for a fun night out on the town. However, these are not your run of the mill ladies; they are the names of destructive back to back hurricanes that hit Florida just over a decade ago. Frances…
FORT LAUDERDALE, FL – Since Kevin McCarty’s appointment as the first non-elected insurance commissioner for the state of Florida, he has been a champion for consumers. Today the Florida Association for Insurance Reform (FAIR) has announced that they will award Commissioner McCarty with a Lifetime Achievement Award for his 27 years of public service. “Kevin…
Consumer Advocacy Group Presents Security First Insurance Chairman and President with Lifetime Achievement Award Tampa, Fla. (September 17, 2014) – The looming and ever-present potential for catastrophic weather. A challenging regulatory environment. Premium affordability. These challenges, in addition to a diverse and vocal group of constituencies, have caused Florida to become one of the most…
A recent article from Reuters reported that Florida’s property insurance market may be an “accident waiting to happen.” An unbiased and balanced assessment of the market proves that this is simply untrue. The Florida property insurance market as a whole is strong, well regulated, and fully capable of paying claims when disaster strikes. The Reuters…
People with poor credit scores in some states pay nearly twice for homeowner’s insurance. Poor credit can result from illness, job loss, and other factors. Is it fair that they should have to pay higher premiums because of bad luck? Please sound off on this un-FAIR treatment insurance companies use!!! Click the link to Post…
A subsidiary of one of the world’s largest private insurance companies, The Flood Insurance Agency, will no longer be writing flood insurance policies in several Tampa Bay area counties including Pinellas. That’s OK though, according to a local insurance guru. “One division of Lloyds of London doesn’t dictate the entire market,” Jake Holehouse of Holehouse…
The recent Palm Beach Post article critical of Citizens Property Insurance Corporation’s alleged lavish travel junkets to buy reinsurance was unbalanced, unfair, and frankly over-the-top. My defense of Citizens may seem unlikely to some. During my tenure with FAIR, our members have filed not one, but two, class action lawsuits against Citizen’s practices which we…