Get ready to dig deeper: Despite reforms, insurers warn consumers that more rate hikes are coming

News Source: South Florida Sun Sentinel Author: Ron Hurtibise Date: October 24, 2021 Homeowners hoping for an end to steep property insurance rate increases next year might as well start looking for other expenses to trim. It’s not happening. Costs won’t be stabilizing or going down anytime soon, multiple officials told state lawmakers during committee hearings in Tallahassee…

Ida is already one of history’s most expensive storms. Here’s how it will affect your insurance rates

News Source: South Florida Sun Sentinel Author: Ron Hurtibise Date: September 13, 2021 Florida might have dodged a bullet from Hurricane Ida, but consumers in the Sunshine State ultimately won’t be able to escape its financial wrath. Insurance experts say Ida will drive up rates for reinsurance — which is insurance that insurance companies must buy to guarantee…

flooding

Press Release: FAIR Calls on Congress to Enact NFIP Reforms

FOR IMMEDIATE RELEASE Federal Association for Insurance Reform (FAIR) sends Letter to Congress: NFIP Reauthorization, Risk Rating 2.0, & Affordability This morning, FAIR sent a letter to the House Committee on Financial Services and the Senate Committee on Banking, Housing, and Urban Affairs. Specifically, FAIR supports full, long-term reauthorization of the National Flood Insurance Program…

Florida Homeowners Face Spike in Insurance Renewals

Source: Insurance Business Magazine Author: Lyle Adriano Date: August 9, 2021 Those looking to renew their homeowners’ insurance in Florida are being blindsided by significant premium increases, as the insurance situation in the state grows complicated. According to Dulce Suarez-Resnick, who has 30 years of insurance industry experience, Florida homeowners are, on average, seeing their insurance premiums surge…

The Surfside condo that collapsed was vulnerable to sinking earth, engineers say. Your house might be too.

Source: South Florida Sun Sentinel Authors: Mario Ariza and David Fleshler Date: August 7, 2021 Just days after the collapse of the condo tower in Surfside, an obscure study emerged that the building had been sinking into the earth for years. It remains unclear whether the settling, or subsidence, of Champlain Towers South was a factor when the 12-story…