Articles by Michael Adams

State Farm Wants to Increase Homeowners Business in Florida… a Bit

One of Florida’s largest homeowner insurers has announced it will once again begin writing new business in the state, just several years after canceling a substantial portion of its book of business. State Farm Florida announced it has plans to …

Mercury Insurance Cuts Florida Auto Rates 10%

Some Florida drivers could see their premiums reduced after one automobile insurer announced it would cut rates by an average of 10 percent. Mercury Insurance Co. officials said the new rates would take effect immediately on all new policies and …

Report Finds Florida PIP Reforms Helping to Lower Rates

Florida drivers are starting to see the benefits of a 2012 re-write of the state’s no-fault automobile insurance law as insurers have reduced their personal injury protection (PIP) rates by a statewide average 13.2 percent. Since PIP rates only account …

Reinsurance Costs Helping to Lower Florida Homeowners Rates: OIR Report

Florida’s top insurance regulator says that state residents are starting to benefit from a more competitive homeowners market as rates have started to trend downward due in part to the reduction in reinsurance costs. Florida Insurance Commissioner Kevin McCarty released …

Florida Bill Would Restrict Insurers in Underwriting Gun Owners

Florida lawmakers say they want to protect policyholders’ second amendment rights to bear firearms by preventing insurers from issuing, renewing or canceling a policy based on whether the policyholder possesses a gun. The state’s Senate Banking and Insurance Committee earlier …

Florida Panel Takes First Step To Creating Private Flood Market

With thousands of Florida residents facing dramatic increases in their flood insurance premiums, state lawmakers are preparing the groundwork for a private market option to premiums charged by the federal flood insurance program. The Senate Banking and Insurance Committee approved …

Florida Joins States Allowing Electronic Proof of Auto Insurance

Florida is joining the ranks of 29 other states and allow drivers to show law enforcement officers their proof of automobile insurance through their cell phone and other electronic means. In December, Gov. Rick Scott and the Florida Cabinet signed-off …

Florida Flood Policy to be Offered in Six Additional States

A Florida insurance agency that stepped forward last month to offer a private market stand-alone flood coverage policy in Florida has started marketing the policy in six other states. The Gainesville, Fla.-based Flood Insurance Agency began offering the private policy …

Florida Lawmakers Unveil Plan to Encourage Private Market for Flood Insurance

With the chances of a federal solution to rising flood insurance rates waning by the day, Florida lawmakers are pressing forward with a bill to create a private market solution to the problem. Florida State Senator Jeff Brandes of St. …

Florida Agents Near Deadline to Accept Citizens’ Appointment

Florida insurance agencies and agents have just a few days left to decide whether or not to agree to the state-backed property insurer’s new appointment guidelines. Citizens Property Insurance Corp. revamped its agent appointment process in September in preparation for …