condominium insurance crisis in Florida News

The Impact of 2 Storms and Claims Advice From a Second-Generation Insurance Agent

As if it were yesterday, I vividly remember going to my first catastrophic fire loss with my dad at the young age of nine. It was a house fire in Sarasota involving a resident falling asleep with a lit cigarette. …

Miami Condo President Charged With Skimming $1.5 Million in Association Fees

The long-time president and engineer of an upscale Miami-area condominium remained in jail late Wednesday after he was charged with stealing $1.5 million in association fees over the last seven years. It’s the second time in two years that a …

Surfside Tower Garage, Pool Deck Had Faulty Support Columns, Prelim Report Shows

FORT LAUDERDALE, Fla. (AP) — Federal investigators determining why a Florida condominium tower partially collapsed three years ago, killing 98 people, said Thursday there were many faulty support columns in the tenant garage that ran below it and the adjoining …

Florida Bills Moving, But Agents Disagree on One That Bars Cancellations After Storms

Florida legislation that has been called an “agents’ bill” because it could perhaps make life a little easier for insurance agents after storms, passed a major hurdle this week, moving it closer to approval by the full Legislature. But all …

‘Citizens 2.0’ is 86’d but Other Florida Insurance, Liability Bills Still Alive

A move to revamp the state-backed property insurer of last resort into Florida’s main wind carrier, a plan dubbed “Citizens 2.0,” appears to have died in the Legislature this year. But other insurance-related bills are still alive, and the governor’s …

‘My Safe Florida Condo,’ Pet Insurance Bills Passed by Senate Committee

First came the My Safe Florida Home program, providing matching grants to homeowners who fortify their homes against wind damage in exchange for premium discounts. Seeing the popularity and effectiveness of that program, Florida lawmakers last month introduced bills to …

Despite Insurance Costs, Lux Condos Going Up: Miami Tower to Have $150M Penthouse

(Bloomberg) — A roughly 13,000-square-foot, full-floor penthouse and roof at the Rosewood Residences, a 17-story condo tower designed by Peter Marino in Miami’s South Beach, could soon be the most expensive in Miami Beach’s history. It’s priced at “over $150 …