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 …
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 …
The Florida insurance industry will be fighting for property insurance reforms in the 60-day legislative session that kicked off this week, but there are several other insurance-related bills to watch. Read on for a breakdown of the bills being considered …
In Citizens’ 2016 rate proposal, approved last month by the Citizens Board of Directors and awaiting approval by the Florida Office of Insurance Regulation, the insurer of last resort did not recommend any sinkhole rate increases for 2016 for most …
Democrat Charlie Crist said he successfully reduced rising property insurance rates as governor and will do so again if elected, vowing to repeal a law enacted under Republican Gov. Rick Scott that he said provides weaker coverage at a higher …
With Florida lawmakers expected to consider formal changes to the state’s property insurance market next week, state Democrats are signaling that they will likely oppose any measure that results in higher rates. Senate Minority Leader Chris Smith (D-Oakland Park) said …
Florida lawmakers are planning next week to release a draft version of a property insurance reform bill. The Senate Banking and Insurance Committee has taken the lead on property insurance reform this year and so far has listened to more …
