Articles by Amy O'Connor

O'Connor is the Southeast editor for Insurance Journal and associate editor of MyNewMarkets.com.

Interview with Florida Commissioner Altmaier: Private Flood Market and NFIP’s 2.0

Florida has 90,000 private flood insurance policies in force now — a 300% increase since passing legislation to encourage private insurers to offer the coverage in 2014, according to Florida Insurance Commissioner David Altmaier. Noting there are five million properties …

Florida Governor to Sign Property Insurance Measure But Says State Needs to Do More

Florida Gov. Ron DeSantis said that he will sign recently-passed legislation addressing property insurance costs and roofing contractor practices while adding that he believes that the state needs to do more to curb excess litigation and improve the insurance market. …

Florida’s Altmaier Sees His State’s Private Flood Insurance Market Helping Others

Florida has 90,000 private flood insurance policies in force now– a 300% increase since passing legislation to encourage private insurers to offer the coverage in 2014, according to Florida Insurance Commissioner David Altmaier. Noting there are 5 million properties in …

Too Little, Too Late? Breaking Down Florida’s Latest Property Insurance Reforms

A bill passed by the Florida Legislature to address the state’s property insurance crisis has created optimism among some stakeholders, while others say it will not reduce rates over the next 18 to 24 months or stop the state’s out-of-control …

Atlanta Insurance Agents Look to Expand Diversity, Equity, Inclusion Through Coalition

A group of Atlanta insurance professionals motivated by the racial justice movement in the wake of the murder of George Floyd exactly one year ago have formed a nonprofit with the mission of improving diversity, equity and inclusion efforts in …

3 Florida Insurers to Drop Thousands of Policies, Make Moves to Stay Afloat

More than 50,000 Florida policyholders will soon be looking for a new carrier for their homeowners insurance after three Florida-based companies were approved by the state regulator to drop the policies. The moves come just a few weeks before the …

Florida Legislature Passes Major Changes to Auto, Property Insurance Markets

Florida lawmakers passed two bills on the last day of their 2021 legislative session that make major changes to the state’s auto and property insurance markets. The actions follow weeks of back-and-forth debate on the proposals between the House and …

Florida Regulator Nixes Citizens Request to Remove Rate Cap on New Business

New policyholders coming into Florida’s insurer of last resort will not face higher rates than existing insureds under an order issued by the Florida Office of Insurance Regulation. The regulator’s decision comes after Citizens Property Insurance Corp. President & CEO …

Florida Drives Toward Repeal of Motor Vehicle No-Fault Law

After many years of trying, Florida is closer than ever to repealing its 50-year-old motor vehicle no-fault law. However, many industry stakeholders have expressed opposition to the legislation passed by the Florida Senate last week and its companion bill approved …

Regulator Deems Florida-Based American Capital Assurance Corp. Insolvent

After negative moves by ratings agencies last month to address its financial issues, Florida’s insurance regulator says American Capital Assurance Corp. (AmCap) is insolvent and should be placed in receivership. In a letter dated April 2 to CFO Jimmy Patronis, …