Florida property insurers News

Report: More Than 87K Floridians Dropped by Home Insurers Last Quarter

State records show home insurers have dropped the policies of more than 87,000 Floridians in the third quarter of this year. The Palm Beach Post reports that state records also show half of the state’s top 10 property insurers served …

Report Shows Florida AOB Abuse Worsening as Lawmakers Consider Reforms

The 2018 Florida Legislative Session is underway, and lawmakers have wasted no time taking up legislation to address the assignment of benefits crisis plaguing the state. While they debate which reform option to back, stakeholders say the Florida Legislature must …

Florida’s Citizens Expects Policy Count Increase in 2018, Plans Claims System Upgrade

Citizens Property Insurance Corp., the Florida state-run insurer of last resort, is anticipating its policyholder count will increase in 2018 for the first time since its efforts to shed policies through depopulation began several years ago. As it moves on …

A.M. Best: Hurricane Irma to Test Florida Market Newbies

Although insured losses as a result of Hurricane Irma will not be as severe as originally forecast, the storm still represents a sizeable catastrophe event that will test the infrastructure and potentially strain the financial wherewithal of some local and …

Florida on Alert for AOB Abuse as Irma Recovery Begins

As Florida residents return home after being evacuated by Hurricane Irma, the pressure is on the insurance industry to keep a bad situation regarding assignment of benefits abuse in the state from getting worse. Florida regulators, carriers, industry trade groups …

Florida Insurers Place All Options on Table to Address AOB Abuse

Florida’s home insurers hope the public doesn’t blame them as they implement rate increases, initiate coverage changes and nonrenew policies. They say they have no choice after the Florida Legislature for the fifth year in a row failed to address …

Florida Lawmakers Once Again Fail to Pass AOB Claims Reform

Florida lawmakers have once again let slip an opportunity to address insurance claims abuse, as legislation failed to make it through the Senate before the 2017 legislative session ended Friday. This is the fifth consecutive year that a bill on …

Florida House Advances Bill Targeting Claims Abuse, But Senate Battle Looms

A bill aimed at decreasing insurance claims abuse in Florida has made it through the Florida House, and the industry’s hope for assignment of benefits reform now officially rests with the state Senate. The Florida House of Representatives advanced House …

Florida Launches AOB Resource, Education Webpage for Consumers

The Florida Office of Insurance Regulation (OIR) has launched a new webpage as part of its efforts to educate Florida consumers about the state’s ongoing challenges with assignment of benefits abuse. The AOB resource webpage has been added to the …

Florida Senator Alleges ‘Smear Campaign’ After Industry-Backed AOB Bill Stalls

A bill backed by the insurance industry to curb the abuse of Florida’s one-way attorney fee statute in assignment of benefit claims has stalled as lawmakers opted to instead advance what the insurance industry and the state’s regulator feel is …