Former state insurance chief Tom Gallagher joins People’s Trust as chief operating officer (via Sun Sentinel)

Fort Lauderdale, Jan. 13 2017 – Former Florida Insurance Commissioner Tom Gallagher has joined Deerfield Beach-based People’s Trust Insurance Co. as chief operating officer, the company announced Friday. Gallagher, 72, served as insurance commissioner in separate stints, from 1989 to 1995 and from 2001 to 2002, then served as state chief financial officer from 2003…

Florida property insurers face ratings downgrades (via Sun Sentinel)

Fort Lauderdale, Feb. 9, 2017 – Looming ratings downgrades for six to eight Florida-based property insurers could affect about 250,000 policyholders statewide, forcing some to find new insurers, according to sources familiar with an advisory issued this week by ratings agency Demotech. The company, whose Financial Strength Ratings (FSNs) determine which insurers are acceptable to…

Grant Funding Available Now for Wind Mitigation Retrofits for Vulnerable Condominium Community in Florida (via Florida Condo & HOA Law Blog)

FAIR (Florida Association for Insurance Reform) is seeking a low to moderate income condominium community to benefit from a Residential Construction Mitigation Program (RCMP) grant from the Florida Division of Emergency Management. The $194,000 grant will be used to supplement the cost of wind mitigation improvements that increase community safety and reduce insurance premiums and…