Florida property insurance crisis News

Florida Governor Floats Condo Relief Session; Condo Captive Idea Flagging

Florida Gov. Ron DeSantis urged lawmakers to weigh ideas on providing condominium owners with relief ahead of a Jan. 1 deadline that requires condo buildings to be inspected and repaired in the wake of the Surfside condo collapse that killed …

How One Florida Engineer Charged Others With Fraudulent Insurance Reports, Testimony

He’s been called a “do-gooder,” a “troublemaker” and a whistleblower. And he may be the best friend the Florida property insurance industry has. A mechanical engineer based in Edgewater, George Miles has filed formal complaints with the Florida Board of …

South Florida Man Charged with Unlicensed Public Adjusting in 2022

Investigators with Florida’s Department of Financial Services last week charged a south Florida man with acting as a public adjuster without a license and defrauding policyholders of more than $34,000. It’s the second time in 14 months Giorgio Giovanni Gonzalez …

Heritage Sees Improved Profits, Plans to Resume Writing in Florida, Other States

Tampa-based Heritage Insurance, enjoying improved profits for the second quarter this year, said it plans to resume writing new policies in Florida and Northeastern states, two years after it ceased new business in the areas. “Importantly, we have now reached …

Hurricane Debby Data Due to Florida OIR Thursday and Friday

The Florida Office of Insurance Regulation said it is reminding property insurers in the state to file Hurricane Debby claims data Thursday and Friday this week. Insurers should use the Simplified 2024 Catastrophe Reporting Form through the Insurance Regulation Filing …

Hurricane Debby Brings Six Deaths, Widespread Flood Losses in Florida, Georgia, SC

Hurricane Debby left at least six people dead Monday along with widespread flooding in the same parts of Florida and Georgia that were swamped by Hurricane Idalia less than a year ago. Debby made landfall near Steinhatchee, in the Big …

Hurricane Slams Florida After Gaining Fury in Warm Waters

Hurricane Debby slammed into Florida southeast of Tallahassee as a Category 1 storm after intensifying over warm waters, the latest evidence that this will be a robust season for tropical cyclones. The storm’s top winds reached 80 miles (130 kilometers) …

Insurer’s Lack of Repairs Caused Woman’s Death After Ian, Florida Lawsuit Says

Just as another hurricane hit Florida, the child of a central Florida woman is litigating a claim from a previous storm – Hurricane Ian in 2022. This time, though, the plaintiff claims not only breach of contract by a Florida …

Hurricane Could Drain Florida Cat Fund’s Reserves. But That May Be OK, Report Says

A report from Moody’s Ratings service contends that one good hurricane this year could wipe out the Florida Cat Fund’s reserves, potentially forcing it to place a small surcharge on Florida insurance premiums to finance more debt. But that may …

Rebuilding After Hurricanes is Complex, Can Change Character of a Community

HORSESHOE BEACH, Fla. (AP) — Before Hurricane Idalia smashed into a small fishing village in northwestern Florida, Charles Long, 68, was fixing up a two-bedroom house for him and his wife. After the August storm, he found remnants of it …