Florida insurance companies dropping 50K home insurance customers

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…

As hurricane season approaches, three insurers are canceling thousands of Florida customers

  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…

Florida Property Insurance Industry in Tenuous Financial State, Despite AOB Reform

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…