Latest Florida Headlines
All the headlines from our Florida Topic Page, ordered by recency.
Florida Firm Fined $16 Million Over Defect in Clothing Steamer Products
Nov 13 2023 // The Consumer Product Safety Commission (CPSC) reports that HSN Inc., of St. Petersburg, Florida, has agreed to pay a $16 million civil penalty. to settle charges that it failed to report complaints and injuries related to...
Markets/Coverages: Florida Citizens Taps Verisk Aerial Imagery for Underwriting
Nov 10 2023 // Verisk, a global data analytics and technology provider, announced that Citizens Property Insurance Corp., the residual, not-for-profit insurer in Florida, will adopt Verisk’s aerial imagery analytics solution. The...
Florida’s HCI Group Rebounds: Q3 Profit, Fewer Policies, Lower Litigation Costs
Nov 9 2023 // Tampa-based HCI Group, the holding company for Homeowners Choice and TypTap property insurance companies, reported a $15.7 million net income in the third quarter, a strong improvement over Q3 last year, when the group saw...
Fed Judges Ask Florida Supreme Court to Decide if Insurers Can Sue Auto-Glass Shops
Nov 9 2023 // The Florida Legislature earlier this year struck a mighty blow for auto insurers in their years-long fight against windshield repair shops, ending assignment-of-benefits and the practice of offering gifts to insureds. Now,...
Florida Lawmakers Fund Home Hardening Program, Idalia Recovery in Special Session
Nov 8 2023 // The Florida House of Representatives and Senate moved quickly this week to approve more funding for the state’s popular home-hardening program, along with grants, loans and tax breaks for areas hit by Hurricane...
Life After Runoff? Anchor Insurance Exploring ‘Possibilities’ in Warming Florida Market
Nov 8 2023 // It’s rare for a property insurance company to emerge from an orderly runoff and re-enter the marketplace as a going concern. In fact, it has never happened in Florida, industry experts say. But that may be what is...
Deadline for More Enhanced Hurricane Idalia Claims Data is Nov. 16
Nov 7 2023 // The Florida Office of Insurance Regulation wants property insurers to remember that another deadline for enhanced catastrophe reporting on Hurricane Idalia claims is Nov. 16. The OIR is required by law to collect a range...
Collab with Claims Handling is Key to Success for Insurance Defense Litigation
Nov 7 2023 // Navigating insurance defense litigation is a complex and often challenging process. Understanding the roadmap and important rules along the way ensures a smoother and more successful path. It is crucial for claims handlers...
More SE Houses Being Built to Withstand Hurricanes – and Cut Emissions
Nov 6 2023 // When Hurricane Michael hit the Florida Panhandle five years ago, it left boats, cars and trucks piled up to the windows of Bonny Paulson`s home in the tiny coastal community of Mexico Beach, Florida, even though the house...
After Raising Premiums, Shedding Policies, Heritage Reports a Smaller Net Loss for Q3
Nov 6 2023 // Heritage Insurance Holdings, parent company of Florida’s 10th-largest property insurance company, reported a net loss of $7.4 million for the third quarter of 2023, a significant improvement over last year after the...
Declarations
Nov 6 2023 // “What I am seeing is that there are insureds that are underinsured. … So, there’s still a lot of insurance to be sold.” — Curtis Prince, CEO and founder of Flux Insurance Services, said during...
Business Moves
Nov 6 2023 // World Insurance Associates, Oakwood Insurance Agency World Insurance Associates has acquired the business of Oakwood Insurance Agency LLC, also doing business as Insure Big Rig, of Califon, New Jersey. Oakwood has been...
People & Places
Nov 6 2023 // American International Group, headquartered in New York, New York, hired Edward Dandridge as executive vice president and chief marketing and communications officer. During his tenure at AIG, Dandridge has served as chief...
Kentucky Clarifies Matching Law While Florida Insurers Use Endorsements to Limit Replacement Costs
Nov 6 2023 // Matching requirements for roofs and interior furnishings have been a tough issue in the property insurance industry for years. Recent developments show how insurers and regulators in different Southeast states are managing...
Florida Special Session Called to Punish Iran … and Help Floridians with Wind Mitigation
Nov 6 2023 // Florida lawmakers have agreed to convene in another special session – the sixth in three years – this time to sanction the country of Iran but with a little indirect Florida property insurance relief also on...
Bad-Faith Payouts Are Penalties, Not Insurance Benefits, Florida Supreme Court Says
Nov 3 2023 // Randy Willoughby’s lawyers turned a $10,000 uninsured motorist policy into a $4 million bad-faith settlement with his auto insurer. Then they won a $30 million jury verdict against the co-owner of the truck that...
Progressive in a Better Place With Reserve Boosts Done, CEO Says
Nov 2 2023 // Shoring up loss reserves and adding “the premium equivalent” of a top 8 personal auto insurer to its books has put Progressive in a better place now than it was at the end of the second quarter. The...
South Florida P/C Insurance Agent Charged With Swiping $131,000 in Premiums
Nov 2 2023 // A south Florida insurance agent has been charged with absconding with more than $130,000 in premiums, leaving property owners uninsured after Hurricane Ian. Naser Al-Sweity, of Boca Raton, was booked into Palm Beach County...
Feeling the Strain of a Hurricane? Emergency Adjuster Licensing Can Help
Nov 2 2023 // This post is part of a series sponsored by AgentSync. Hurricane season is upon us once again, and while The Band of Heathens isn’t worried, the rest of us are preparing. So as homeowners brace for unprecedented winds...
Ravaged Fort Myers Becomes Magnet for Risk-Taking Property Buyers
Nov 1 2023 // A year after Hurricane Ian ripped through southwest Florida, wealthy risk-takers are transforming one beach town. In Fort Myers Beach, many of the middle-class cottages that once dotted the Estero Island town were wiped...
