News Source: South Florida Sun-Sentinel Author: Ron Hurtibse Date Published: January 28. 2023 State Farm Florida is the third-largest property insurance company in Florida, by policy count. It’s a fact that the Florida offshoot of the national insurer hasn’t wanted you to know over the past eight years. State-owned Citizens Property Insurance Corp., the so-called “insurer of last…
News Source: South Florida Sun-Sentinel Author: Roy Hurtibise Date Published: January 15th, 2023 Why not just expand state-run Citizens Property Insurance Corp. to cover all homeowners in Florida? It’s a timely question for the fast-growing state-owned insurer of last resort after a run of costly hurricanes and heavy litigation have resulted in five straight years of collective insurance industry…
News Source: E&E News Date Published: December 15th Author: Thomas Frank Hundreds of thousands of Florida property owners face requirements to buy flood insurance under a precedent-setting bill approved Wednesday by the state Legislature. It’s the first mandate of its kind in the country. The requirement applies to properties across the state, regardless of whether they…
News Source: Insurance Journal Author: William Rabb Date Published: December 13th A Florida Senate Committee spent about two hours Monday reviewing a sweeping property insurance reform bill before approving it along party lines – with no changes. All nine Republicans on the Senate Banking and Insurance Committee voted in favor of Senate Bill 2A, authored by…
News Source: Reinsurance News Date Published: November 29th Author: Kane Wells The U.S. Federal Emergency Management Agency (FEMA) has reported that the National Flood Insurance Program (NFIP) has paid $793 million in claims following Hurricane Ian, as Federal support nears $3 billion. FEMA suggests that more than $2.97 billion in federal grants, disaster loans and flood insurance payments…