Pew Charitable Trusts & U.S Chamber of Commerce Letter

  Date Published: August 2nd The Pew Charitable Trusts and the U.S. Chamber of Commerce—together with planners, engineers, developers, and leaders from business associations, local government institutions, the insurance industry, fiscal conservative organizations, the nonprofit sector, and others—sent a letter on Aug. 2 to leadership of the Senate Homeland Security and Governmental Affairs Committee and the…

State guaranteeing insurance claims through hurricane season to counter downgrade risk [South Florida Sun-Sentinel]

News Source: Insurance News Net [South Florida Sun-Sentinel] Author: Ron Hurtibise Date Published: July 27th Florida homeowners won’t lose their insurance coverage or face force-placed policies if their insurers lose their financial stability ratings — at least through hurricane season. The Florida Office of Insurance Regulation today announced that the state, through the Florida Insurance Guaranty Association and state-run Citizens Property Insurance…

Insurance company ratings downgrades delayed, Demotech tells state officials

News Source: Insurance News Net (Florida Sun-Sentinel) Author: Ron Hurtibise Date Published: July 25th   A slew of ratings downgrades for Florida-based insurers won’t be happening Tuesday after all. The CEO of Ohio-based Demotech, who last week sent letters to 27 insurers telling them that their financial strength ratings would be downgraded on July 26, on Monday afternoon sent a…

Neptune Flood announces partnership with SIAA

News Source: Reinsurance News Author: Kassandra Kimenez-Sanchez Date Published: July 20th, 2022   AI-driven flood insurtech Neptune Flood has announced a new partnership with SIAA (Strategic Insurance Agency Alliance), an US alliance of independent insurance agencies. With this partnership, SIAA members will have access to Neptune solutions for flood risk through SIAA MarketFinder, SIAA’s online member-only portal…

Florida property insurers file rate reductions with state. But will your premiums fall?

News Source: News 6 WKMG Author: Louis Bolden Date: July 7th A state program created after a special legislative session on property insurance is supposed to pass on savings to consumers. A state statute required insurers to file their potential savings with the Office of Insurance regulation by June 30. Many companies have filed and there are reductions,…

FL homeowners face still-rising property insurance premiums; regulators review hefty rate hikes

News Source: Florida Phoenix Author: Laura Cassels Date Published: June 27th, 2022 More increases in property-insurance premiums are in the pipeline for Florida homeowners, whose property-insurance costs already are far above the national average. The Florida Office of Insurance Regulation is evaluating requests from three private property insurance companies to raise their rates: Florida Farm Bureau wants…

Has your house or apartment flooded before? In Florida, good luck finding out

Has your house or apartment flooded before? In Florida, good luck finding outAs an unnamed storm drenched Miami-Dade earlier this month, some people were shocked to find themselves suddenly sloshing through floodwaters creeping into homes or apartments. News Source: Miami Herald Author: Alex Harris Date Published: June 19, 2022   As an unnamed storm drenched Miami-Dade earlier…