Ratings agency Demotech has affirmed the ‘A’ ratings of the Florida homeowners carriers it rates, which account for approximately 66% of the state’s market, after review of 2020 year-end and projected Q1 2021 results. However, Demotech warned of tough times …
While carriers face growing financial losses in Florida’s distressed property insurance market, insurance agents are on the front lines trying to help their clients who are being hit with double-digit rate increases, non-renewals, coverage restrictions or refusals from the admitted …
In an effort to educate consumers about contractor fraud schemes that are contributing to increased insurance rates, Florida’s Insurance Consumer Advocate (ICA) Tasha Carter has launched a new educational initiative, Demolish Contractor Fraud: Steps to Avoid Falling Victim. The new …
It’s the start of another Florida Legislative Session with a familiar theme — insurers pushing for reforms they say are needed to help the state’s distressed insurance market. Only this year the need is more urgent than ever, according to …
Three bills currently working their way through the Florida Legislature are designed to tackle the rising costs of homeowner roof claims, the costs of attorney fees in homeowner’s claims and issues surrounding notice to insurance carriers. The proposed legislations come …
Florida’s property insurance market is “spiraling towards collapse” and requires immediate attention if there is any chance of protecting the market, consumers, and ultimately, the state’s economy, according to an analysis about to be presented to the Florida Legislature. The …
The way liability claims are litigated in Florida will dramatically change, possibly shifting the balance of power in pre-trial negotiations closer to favoring defendants and their insurance companies after the Florida Supreme Court opted to adopt the federal summary judgment …
