Demotech Suspends Florida Insurer Rating Criteria; Says Downgrades Coming February 7, 2017 By Amy O'Connor Recent Florida Supreme Court decisions and ongoing abuse in Florida’s insurance market have led a ratings company to change the...
Top Florida Stories of 2016: The AOB ‘Insurance Crisis’ December 13, 2016 By Amy O'Connor Assignment of benefits abuse has become such a well-known problem in the state of Florida this year that it now...
Florida’s Citizens to Lawmakers: AOB Reform Must be Passed in 2017 December 8, 2016 Florida lawmakers can expect substantial pressure to tackle the assignment of benefits (AOB) and water loss claims crisis from the...
Florida Regulators Approve Rate Increase for Citizens Policyholders September 19, 2016 By Amy O'Connor The Florida Office of Insurance Regulation approved a 6.4 percent overall rate increase for 2017 for Citizens Property Insurance Corp....
Heritage Revokes 14.9% Rate Increase Filing for Florida Homeowners July 13, 2016 By Amy O'Connor After review by the Florida Office of Insurance Regulation (OIR) and much criticism from Florida stakeholders, Florida-based Heritage Property &...
Florida’s Citizens Says AOB Abuse to Blame for Statewide Rate Increase of 6.8% June 23, 2016 By Amy O'Connor Citizens Board of Governors has approved recommended rates for 2017 that equal an average rate increase of nearly 7 percent...
Citizens Implements Contract Changes to Address Florida Water Losses May 10, 2016 Citizens Property Insurance Corp. is alerting policyholders to important policy changes beginning July 1 as part of the state-backed insurer’s...
Special Report: Execs Warn of Impending Florida Market Crisis Over Water Loss Claims May 3, 2016 By Amy O'Connor Abuse of assignment of benefits (AOB) from water loss claims has become a full-blown Florida insurance crisis that will mean...
Florida’s Citizens Pushes Policy Changes to Address Rising Water Loss Claims March 17, 2016 Citizens Property Insurance Corp.’s board of governors has approved a slate of recommendations aimed at reducing the impact of what...
Report: Florida Water Loss Claims up 46 Percent in 5-Year Period March 2, 2016 By Amy O'Connor The frequency and severity of water loss claims in Florida have increased every year since 2010, according to data call...