I recently received an email from a Florida “snow bird”. If you’re not familiar with the term, it refers to people who make their home in two places. In the warm months, they make their homes in northern climates, such …
Citizens Property Insurance Corp. has approved a slate of policy language changes designed to protect consumers while addressing rising costs of nonweather water loss claims and related litigation that continue to drive premiums higher, according to a statement from the …
Demotech will not downgrade any of the 16 Florida homeowners insurers that it said earlier this year could face financial stability ratings (FSRs) adjustments because of hurricane losses and assignment of benefits litigation during 2017. The announcement comes after the …
A company that rates many Florida property/casualty insurers believes hurricane losses and assignment of benefits litigation during 2017 could affect some insurers’ financial ratings. Ratings company Demotech says it will wait until it has analyzed year-end financial information, revised business …
You may have figured out that I like to watch the insurance news. I mean, I work for the company that produces my favorite insurance news (Insurance Journal) and I don’t say that just because I work here. I was …
Florida’s ongoing battle with assignment of benefits (AOB) claims abuse was not a new topic in 2017, but it was certainly one of the hottest ones for Southeast readers. From threats of insurer ratings downgrades caused by the escalation in …
Citizens Property Insurance Corp., the Florida state-run insurer of last resort, is anticipating its policyholder count will increase in 2018 for the first time since its efforts to shed policies through depopulation began several years ago. As it moves on …
Although insured losses as a result of Hurricane Irma will not be as severe as originally forecast, the storm still represents a sizeable catastrophe event that will test the infrastructure and potentially strain the financial wherewithal of some local and …
As Florida residents return home after being evacuated by Hurricane Irma, the pressure is on the insurance industry to keep a bad situation regarding assignment of benefits abuse in the state from getting worse. Florida regulators, carriers, industry trade groups …
The Florida Office of Insurance Regulation (OIR) announced it will conduct a rate hearing on Aug. 31, 2017 to receive public comment on Citizens’ proposed rate changes for its business in the Coastal Account (CA), Commercial Lines Account, and Personal …
