Articles by Michael Adams

Florida’s Flood Agency Stops Writing New Business in Tampa Bay Region

One of the first entities to step forward and provide private flood insurance in Florida has announced it will stop writing new business in the Tampa Bay region in order to manage its exposure. The Flood Agency, which offers private …

Florida’s Citizens’ Gilway Defends Overseas Travel Before Governor, Cabinet

The top official of Florida’s state-backed property insurer stepped forward yesterday to defend his organization’s international travel, arguing it was necessary to conclude a $3.1 billion risk transfer plan. Citizens Property Insurance Corp. President Barry Gilway has found himself under …

Appeal Expected Over Ruling Overturning Florida Workers’ Comp System

A Florida circuit court judge has ruled that the state’s workers’ compensation law is unconstitutional because it no longer provides adequate benefits to injured workers giving up their right to sue. Florida 11th Circuit Court Judge Jorge Cueto handed down …

Florida’s Citizens Defends Travel Expenses Questioned By Gov. Scott

Florida Governor Rick Scott is calling on the top official of the state-backed property insurer to explain why the insurer has deviated from its limitations on overseas travel. Citizens Property Insurance Corp. officials traveled to London and Zurich as part …

Florida State to Pay Premiums for ‘Loss of Value’ Coverage for QB Winston

Florida State University is reportedly planning to pay the premium for an insurance policy that could pay star quarterback Jameis Winston up to $10 million in the event an injury affects his future professional career. Winston was instrumental last year …

Could Citizens Become Too Competitive in Florida?

Florida’s state-backed property insurer’s proposed rate reduction is raising questions about whether it will make the insurer competitive with the private market. Citizens Property Insurance Corp. recently proposed 2015 rates that include a statewide average 2.9 percent rate decrease on …

Florida 1.3% Hurricane Tax to End in January

Florida regulators announced they are ending a 1.3 percent assessment on property insurance premiums 18 months ahead of schedule. The monies had been used to pay off bonds issued by the state’s hurricane catastrophe fund in 2010. The Florida Hurricane …

Florida Frets That With Proposed Rate Cut, Citizens Could Be Too Competitive

Florida’s state-backed property insurer’s proposed rate reduction is raising questions about whether it will make the insurer competitive with the private market. Citizens Property Insurance Corp. recently proposed 2015 rates that include a statewide average 2.9 percent rate decrease on …

South Carolina Workers’ Compensation Loss Costs Cut

South Carolina employers should see their workers’ compensation premiums go down this year since regulators have approved an average 7.4 percent decrease in the state’s loss costs. Director of Insurance Ray Farmer approved the new rates, which are scheduled to …

South Carolina Workers’ Compensation Costs Set to Decrease

South Carolina employers could see their workers’ compensation premiums go down later this year after regulators approved an average 7.4 percent decrease in the state’s loss costs. Director of Insurance Ray Farmer has approved the new rates, which are scheduled …