More Than a Dozen Florida Insurers Facing Ratings Downgrades

News provided by: Insurance Journal The rating agency responsible for assigning financial stability ratings (FSR) to more than 40 Florida domestic insurers has warned that several carriers will receive downgrades due to deteriorating conditions in the state’s property insurance market, and more than a dozen more could be downgraded in the next few months. In…

Improving the Transparency of Florida Hurricane Catastrophe Fund’s (FHCF) Ratemaking

The Florida Hurricane Catastrophe Fund’s Ratemaking Formula Report is an “Actuarial Communication” as governed by actuary profession’s U.S. Standards of Practice, specifically #41.  Therefore, it must adhere to the following standard (from section 3.2 of #41) unless the actuary discloses a deviation from standards and explains why: “In the actuarial report, the actuary should state the actuarial…

Florida Homeowners Insurance Market Update

FAIR is deeply concerned about the recently reported operating results of Florida-based insurance companies. We have also heard from a number of affected policyholders of insurance companies that have failed, i.e., Florida Specialty, Windhaven. Fourth quarter 2019 financial data will result in additional operating losses beyond the dollar amounts already reported. Moreover, Floridians will face…

FAIR Announces Election of Jay Neal to Executive Chairman of the Board and Former Administrator of the NFIP, Jeffrey Bragg, as Vice-Chairman ~ Paul Handerhan Appointed as President

FORT LAUDERDALE, FLORIDA, November 4, 2019 –  The Federal Association for Insurance Reform, a non-partisan insurance consumer advocacy group, today announced the election of Jay Neal as the Executive Chairman of the Board of Directors and Jeffrey Bragg, former Executive Director of the Terrorism Risk Insurance Program and NFIP Administrator, as the Board’s Vice-Chairman. The…

Security First Insurance Executive Honored by Industry Consumer Advocacy Group

News provided by Security First Insurance: ORMOND BEACH, Fla., Sept. 25, 2019 /PRNewswire/ — The non-profit consumer advocacy group, the Federal Association for Insurance Reform (FAIR) has selected Melissa Burt DeVriese, Security First’s Chief Administrative Officer & Chief Legal Counsel as the 2019 recipient of its Founder’s Award. According to Jay Neal, FAIR’s President and Chief Executive Officer, “Melissa has been…

Demotech’s discussion with Kathy Ireland featured at FAIR Annual Gala

News provided by Demotech: COLUMBUS, Ohio, Sept. 12, 2019 /PRNewswire/ — Demotech is pleased to announce that excerpts from its exclusive interview on Worldwide Business with kathy ireland® will be featured at the FAIR Annual Awards Gala & Benefit on October 24, 2019. Having aired on Fox Business Network as sponsored content, the discussion features Demotech’s evaluation and identification of hundreds of…

FAIR Supports Approval of Insurance Omnibus Bill

FORT LAUDERDALE, FL, June 19, 2019 –  The Federal Association for Insurance Reform (FAIR), a national non-partisan, consumer advocacy group dedicated to providing insurance consumers with quality coverage at affordable rates, applauds the passage of House Bill 301 which was signed into law by Florida Governor Ron DeSantis on Tuesday. “H.B. 301 is the result…

Insurance Consumer Advocacy Group Announces National Expansion and Commits to Address Flood Risk Across the US

WASHINGTON, DC, June 4, 2019 –  The Federal Association for Insurance Reform (FAIR), a Florida-based non-partisan consumer advocacy group, today announces its national expansion and commitment to reducing uninsured flood risk across the United States. FAIR is a non-partisan, non-profit consumer advocacy group dedicated to providing insurance consumers with quality coverage at affordable rates through…

Leadership Strengthened Through Storms: An Interview with Governor Jeb Bush- The Demotech Difference

On November 29, 2018, the Florida Association for Insurance Reform, FAIR, hosted its Sixth Annual Awards Gala and Benefit. Former Florida Governor Bush delivered the keynote presentation to two hundred guests gathered to celebrate the accomplishments of FAIR. FAIR recognized Jeff Reamer, Southern Safe Construction, with its Founders Award and Paul Huszar, VetCor Services, with…

FAIR 2019 Founders Award- The Demotech Difference

PRESS RELEASE – FORT LAUDERDALE, FLORIDA, December 17, 2018 The Florida Association for Insurance Reform, (FAIR), today announced the election of former Florida Insurance Commissioner, Kevin McCarty as the Chair of the Board of Directors and Sonja Larkin-Thorne, retired insurance executive, The Hartford, as Board Co-Chair. “I appreciate the opportunity to serve as Chair of…