Latest Florida Headlines
All the headlines from our Florida Topic Page, ordered by recency.
Florida’s Citizens Defends Proposed 11.2% Rate Increase at Hearing
Sep 25 2012 // Executives of Florida’s state-backed insurer defended a proposed statewide average 11.2 percent increase in homeowners rates as regulators, consumer advocates and other officials questioned the need for the...
Florida Rep. Hits Citizens for ‘Rushing’ Surplus Loan Proposal
Sep 24 2012 // A plan by Florida’s state-backed property insurer to loan private insurers millions of dollars in surplus in exchange for removing policies has not been properly vetted and is a sweetheart deal for a few insurers, a...
Republicans Opposing 3 Florida Justices
Sep 24 2012 // The Republican Party of Florida is injecting itself into this year’s state Supreme Court elections. The party’s executive board last week voted to oppose three justices who are seeking a new six-year term...
Retrial Ordered in Florida Condo Association Suit Against QBE Insurance
Sep 24 2012 // A federal appellate court has reversed a $7.2 million judgment and ordered a new trial in a Florida hurricane insurance case. The 11th Circuit Court of Appeal issued the ruling in Atlanta based on a May opinion by the...
Florida’s Citizens to Loan Surplus to Private Insurers
Sep 24 2012 // Florida’s state-backed property insurer is considering investing in private insurers to the tune of $350 million, with the hopes these insurers would then take up to 300,000 policies. The move is an attempt by...
Business Moves – Southeast
Sep 24 2012 // CRC|Crump, Preferred Brokerage CRC|Crump has signed an agreement with Preferred Concepts in New York to acquire select assets of the company’s Preferred Brokerage business unit. Terms were not disclosed. J.C....
Florida’s Citizens’ Gilway: Private vs. Public Sector Management
Sep 24 2012 // Barry Gilway is president of Florida’s state-run property insurer, Citizens Property Insurance Corp. He is the first head of Citizens who comes solely from the private sector. In the following excerpts from a recent...
Florida Appeals Denial of Federal Disaster Aid for Isaac Damage
Sep 21 2012 // Florida Gov. Rick Scott is appealing the federal government’s decision to deny additional aid for damage caused by Hurricane Isaac last month. Scott is also asking for more aid than originally requested. On Sept. 19,...
Better Than A Stick In The Eye, But Not By Much
Sep 13 2012 // A few days back, Florida’s troubled Citizens Property Insurance Corp. announced a plan to “depopulate” its book of business through a program of loans to well-capitalized insurers. On its surface, this...
Q&A with Florida’s Citizens CEO Gilway: Leading in the Public Sector
Sep 13 2012 // Two months ago when Barry Gilway took over as president of Florida’s state-run property insurer, Citizens Property Insurance Corp., he quickly learned there would be no honeymoon period. He was thrust into debates...
RLI Extends Coverage for Personal Umbrella Policies in Florida
Sep 12 2012 // RLI Corp. is now offering a reduced liability attachment point for its personal umbrella policy for Florida residents. Personal umbrella coverage is now available to customers whose primary residence is in Florida and who...
How Florida’s Citizens’ Surplus Loans to Private Insurers Would Work
Sep 12 2012 // Florida’s state-backed property insurer is considering for the first time whether to invest in private insurers to the tune of $350 million, with the hopes these insurers would then take up to 300,000 policies. The...
Florida’s Citizens’ Plan for Loans to Private Insurers Criticized
Sep 10 2012 // Hurricane-prone Florida’s insurer of last resort, state-run Citizens Property Insurance Corp. on Friday approved a plan to provide up of $350 million in sweetened loans to private companies willing to take over...
Lessons from Andrew
Sep 10 2012 // Hurricane Andrew hit South Florida with winds topping 160 mph on August 24, 1992, devastating several communities. According to Gary Kerney, of Verisk’s Property Claims Services, the insurance industry had never seen...
Florida Targets Check Cashing Fraud
Sep 10 2012 // Just months after Florida lawmakers enacted a law targeting the role of check cashing companies in the construction industry, state officials announced a string of arrests netting more than $140 million in fraudulent...
Florida Streamlines Licensing for Agents, Adjusters
Sep 10 2012 // A new Florida law seeks to reduce the regulatory burden on agents and adjusters by consolidating some licenses and revamping the education classes they must take. Among the changes: insurance adjusters and agents operating...
Florida Names 7 Workers’ Comp Judges
Sep 10 2012 // Florida Governor Rick Scott has reappointed seven judges on the state’s court that handles workers’ compensation claims. Judge W. James Condry II, 54, of Orlando, has been a judge of Compensation Claims for the...
Florida Workers’ Compensation Writers Seek Rate Hike Again
Sep 10 2012 // Florida workers’ compensation insurers are seeking a statewide average 6.1 percent rate hike. If approved, the filing by the National Council on Compensation Insurance (NCCI) would mark the third consecutive...
Analysis: Florida’s Insurers, Reinsurance and Catastrophic Storms
Sep 10 2012 // Since 1996, Demotech has rated most of the homegrown Florida domiciled insurers. Our efforts have focused on the assignment of Financial Stability Ratings® (FSRs) to all financially stable insurers, start-ups as well as...
Private Insurers in Line to Take 150,000 Policies from Florida’s Citizens
Sep 7 2012 // Four Florida-based property insurers have been given the green light to remove up to 150,000 policies from the state-backed Citizens Property Insurance Corp., which would contribute to the greatest shift of policies to the...
