Like thousands of other Floridians, I recently received my homeowner’s insurance renewal statement only to learn that my premium was increasing by a double-digit percentage – nearly $600 annually. But like most homeowners who have a mortgage and who pay …
The 2018 hurricane season is officially underway, even as the dust continues to settle on the 2017 hurricane season — one of the costliest hurricane years on record — that brought devastation to Florida from Hurricane Irma. Meanwhile, the Gulf …
The Florida fund that helps private insurers pay out claims after a hurricane remains in good shape heading into a storm season. Despite losses from Hurricane Irma, estimates show the Florida Hurricane Catastrophe Fund will have $17.3 billion available this …
The hurricane season is officially over, but it didn’t go by without leaving a major mark on Florida and its insurance industry. Hurricane Irma, a name most in the state won’t soon forget, first hit the Florida Keys as a …
Hurricane Irma’s damaging rampage through Florida may require the state fund that provides backing to private insurers to pay up to $5.1 billion in claims. Anne Bert, chief operating officer for the Florida Hurricane Catastrophe Fund, said Thursday the fund …
The Florida Office of Insurance Regulation (OIR) has issued an order establishing the 2017 commercial property rates for Citizens Property Insurance Corporation. Rates are going up for all accounts except the Commercial Property Non-Residential Multi-Peril. Some lines will see rate …
Hurricane Hermine, the first hurricane to make landfall in Florida in 11 years, is not likely to have a significant impact on the financial condition of the Florida Hurricane Catastrophe Fund (FHCF) or Citizens’ Property Insurance (Citizens), according to Fitch …
After two years of price decreases averaging 15 percent on U.S. property catastrophe placements, risk-adjusted pricing moderated at the most recent June renewals. Reinsurance broker Guy Carpenter & Co. reported that the price declines are averaging in the high single …
Florida’s nine-year streak of avoiding hurricanes is helping the state reach a historic milestone: for the first time ever, the state-created fund designed to help pay out claims after storms has enough cash and assets on hand to pay off …
Faced with a rising number of consumer complaints, Florida’s state-backed property insurer has announced a series of changes to its takeout program. The news comes as the insurer said it is highly unlikely to need policyholder assessments next year. Citizens …
