Latest Florida Headlines
All the headlines from our Florida Topic Page, ordered by recency.
Florida Condos Say They Can’t Get Coverage. House Bill Would Let Citizens Step In
Jan 24 2024 // When a Florida Senate committee last week approved a bill that would raise the policy limit on homes that can be written by the state-backed Citizens Property Insurance Corp., state Sen. Doug Broxson said the change was...
Florida to Borrow Billions to Backstop Insurers After Hurricanes
Jan 23 2024 // The state corporation that oversees the Florida Cat Fund is planning to borrow as much as $3.8 billion to ensure the fund has plenty of money on hand to reimburse property insurers for losses when homes are damaged or...
Florida Senate Committee Adopts Litigation Funding Rules; Expands Wrongful Death
Jan 23 2024 // Litigation financing could soon become more transparent and less influential in Florida, but a 34-year-old restriction on who can file medical malpractice wrongful death claims would be expanded under bills approved Monday...
Are Florida Insurance Premiums Hurting the Real Estate Market? Sales Down, Prices Up
Jan 22 2024 // State and national news reports have raised questions about the impact that high property insurance premiums in Florida have had on the real estate market and if the costs are prompting some residents to consider moving...
Declarations
Jan 22 2024 // Auto Severity “Workplace patterns have changed post-pandemic with work-from-home arrangements, reducing the number of vehicles on the road. However, driver inattentiveness and riskier driving habits have become more...
Do Regulators, Insureds and Agents Understand How Reciprocal Carriers and Some New MGAs Work?
Jan 22 2024 // I recently read an article regarding how the U.S. Senate wants to investigate how well reserved Florida Citizens is because of their expressed concern that if a large hurricane destroys enough property insured by Florida...
Judge Slams Florida’s Universal P&C for ‘Stonewalling’ Court Orders, Demands Answers
Jan 22 2024 // Universal Property & Casualty Insurance Co. officials have downplayed the significance of recent Florida judges’ rulings that have slammed the company for violating court orders, have forced Universal to default...
A Deep Dive into the Diligent Effort (Search) Requirement
Jan 22 2024 // The excess and surplus lines insurance market is a rapidly-growing avenue for the placement of insurance policies in the United States. Many alien (non-U.S.) insurance carriers write surplus lines insurance coverage via...
State Farm Owes $2.6M to Florida, Court Says in Reading of ‘Dense’ Tax Code
Jan 18 2024 // State Farm Insurance and its subsidiaries owe the state of Florida more than $2.6 million in back taxes and interest after a state appeals court ruled against the insurer on an interpretation of state and federal tax...
Fla. Senate Panel Votes to Raise Citizens’ Policy Cap to $1M, End Glidepath for Some
Jan 17 2024 // The Florida Senate’s Banking and Insurance Committee on Tuesday approved a bill that would make the state-backed Citizens Property Insurance Corp. more like an insurer of last resort, unrestricted by premium caps –...
NTSB Investigating After High-Speed Rail Crashes Killed 3 People in Florida
Jan 16 2024 // FORT LAUDERDALE Fla. (AP) — The National Transportation Safety Board said Saturday it will investigate two crashes involving Florida’s Brightline train that killed three people at the same railroad crossing on the...
Florida OIR Report Shows Indemnity Paid Was Much Higher for Litigated Claims
Jan 16 2024 // Stakeholders have continued to react to a recent Florida Office of Insurance Regulation report on the property insurance market, a report that underscored the impact that excessive claims litigation had on insurers but...
Judge Says Lawsuit vs. Parkland School Deputy Can Go to Trial
Jan 12 2024 // FORT LAUDERDALE, Fla. (AP) — A lawsuit filed by families of the 17 people killed and other victims of the Parkland, Florida, school massacre against a former sheriff’s deputy who failed to intervene can go forward,...
South Carolina Liquor Liability Market ‘Extremely Unprofitable,’ DOI Report Finds
Jan 11 2024 // A report from the South Carolina Department of Insurance confirms what insurers and bars and restaurants have said for the past few years: Liquor liability coverage in the state is “extremely unprofitable” for...
Part II: Don’t Go Bare: 4 Creative Options for Brokers in Gulf Coast States
Jan 11 2024 // This post is part of a series sponsored by IAT Insurance Group. It’s not news that property owners along the Gulf Coast are experiencing sticker shock when it comes their insurance renewal. The challenge is, rate...
At Least 4 Dead; Marina, Homes Destroyed as Storms Slash Through Southeast
Jan 10 2024 // Four people were killed and property was ripped apart as tornadoes and severe thunderstoms moved across the Southeast Tuesday. The New York Times and other news services reported that an 81-year-old woman died after her...
King Insurance Partners with Partners Insurance in Florida
Jan 9 2024 // King Insurance Partners, an insurance brokerage based in Gainesville, Florida, announced it has acquired Partners Insurance Agency in Gainesville. It’s the latest growth spurt for King, which saw significant...
Tornadoes Rip Homes, Businesses in Florida Panhandle
Jan 9 2024 // Multiple tornadoes and high winds were reported across the South early Tuesday, including Panama City, Florida, where storms caused significant damage to homes and businesses and forced rescues of stranded...
Update: How Loggerhead Moved to Snap Up 110,000+ Progressive Policies in Florida
Jan 9 2024 // In early 2021, former executives with the Auto Club Insurance Co. of Florida, affiliated with AAA, decided to form a new property insurance company in Florida — even before state lawmakers made monumental changes...
Customer Sues Dunkin Donuts Over ‘Exploding’ Toilet in Florida
Jan 8 2024 // ORLANDO, Fla. (AP) — A customer has filed a negligence lawsuit against Dunkin`, claiming he was injured by an exploding toilet at one of the coffee chain`s locations in central Florida. Paul Kerouac is seeking more...
