March 18, 2025
Florida International University has long been known as a hurricane research center. Think: the famous Wall of Wind, the giant fan system that tests the effects of 157-mph winds on structures and materials. A much larger, stadium-sized testing facility for …
February 5, 2025
Florida’s 2025-2026 state budget, as proposed by Gov. Ron DeSantis, would provide some $600 million for home and condominium hardening grants – almost triple what lawmakers approved for the popular programs last year. In his budget posted this week, DeSantis …
November 26, 2024
Despite four hurricanes in just over a year and significant payouts by the Florida Cat Fund, three special tax bonds have seen their ratings upgraded, the state’s insurance commissioner announced Monday. “These recent upgrades continue to show that Florida’s insurance …
October 11, 2023
State laws adopted in 2022 and 2023 may have stemmed excessive claims litigation in Florida, helping to stabilize the distressed property insurance market and slow rate increases. But premiums, which have doubled for some homeowners in recent years, are unlikely …
September 6, 2023
Just days after another hurricane smashed through part of Florida, another property and casualty insurer has been approved for the state, providing more evidence that 2022 legislative limits on litigation are having a desired effect. “I think investors’ appetites have …
April 4, 2023
The National Hurricane Center’s report on Hurricane Ian, posted Monday, six months after the storm hit southwest Florida, pegs Ian as the most expensive to hit the Sunshine State, causing twice as much damage as Hurricane Andrew did 30 years …
January 31, 2017
A major $200 billion loss from a combination of a cyber attack, U.S. hurricane and the failure of a reinsurer could strip insurers of up to 120 percent of their net capital base, tests of insurers in London showed. However, …
October 18, 2016
A.M. Best does not anticipate a significant number of rating actions related to Hurricane Matthew, as most rated insurance carriers have sufficient capital and appropriate reinsurance programs in place to effectively absorb this event, according to a new briefing from …
October 14, 2016
It’s been nearly a week since Hurricane Matthew ravaged the Southeast coast but the insurance industry’s job of responding to the devastation and assessing the total cost of damage from the storm is just beginning. With flood waters still rising …
October 10, 2016
Citizens Property Insurance Corp. is urging its policyholders to call Citizens first to report losses following Hurricane Matthew in order to protect themselves from assignment of benefit (AOB) scams, according to a statement from the company. “Citizens is ready to …