Allegations that some insurance carriers have altered field adjusters’ damage estimates has gained more national attention after The Washington Post reported on and documented examples of the practices. Leadership with Florida-based Heritage Insurance Co. and with Florida Peninsula Insurance, named …
A Florida bill that aims to further limit injury and insurance litigation and attorney fees passed a state Senate committee Tuesday after heavy debate – but with few amendments at the opening day of the state’s 2023 legislative session. Senate …
After years of what some insurers have labeled half-measures, Florida lawmakers appear to be on the cusp of delivering “historic” and “transformational” reforms that would end one-way attorney fees, banish assignments of benefits and offer state-backed reinsurance at a discount. …
The head of the Demotech insurance rating firm said the company likely won’t take on new clients in Florida, due to the turbulent insurance market and an outcry from state officials last summer. The Business Observer in Sarasota, Florida, reported …
As the Florida Legislature prepares for its 2nd Special Session on property insurance in 2022, it’s time we examine why our market sputtered out of control and discuss the necessary solutions to fix it. Many Floridians are wondering: How could …
Florida’s besieged property insurance industry is hoping the second time will be the charm, after Gov. Ron DeSantis announced that he is working with lawmakers to schedule another special session to help stablilize the market. The governor’s office did not …
Former Florida Insurance Commissioner Kevin McCarty is criticizing current state regulators over their recent digs at the Demotech financial rating firm, after Demotech warned it would downgrade more than a dozen property insurers in the state. “Demotech is merely the …
The recent brouhaha regarding Demotech and its Financial Stability Ratings (FSRs) of as many as 20 Florida insurers has now come full circle…almost. One important question remains unanswered. Before answering the question, and for those who’ve just joined the discussion, …
Ahead of next week’s special legislative session, Florida’s chief financial officer is asking lawmakers for $6.5 million to fund 23 new investigative positions and to launch a public education campaign, part of his proposal to combat insurance fraud and reduce …
In a sign that Florida’s property insurance problems continue to be a hot-button issue, a Florida state representative will hold town hall meetings next week to hear from stakeholders. State Rep. Kamia Brown, D-Orlando, announced the “State of the Insurance …
