Water loss claims, exacerbated by assignment of benefits, are driving higher rates in South Florida and increasingly across the state, according to a just released analysis conducted by Citizens Property Insurance Corp. for state insurance regulators. The insurer says the …
The Florida Office of Insurance Regulation (OIR) ordered Florida’s largest property insurers on Oct. 23 to submit detailed information on water loss claims, mitigation services, litigation and assignment of benefits. OIR stated the data call would help evaluate the impact …
Florida property insurers are well-capitalized and able to handle a 1-in-100 year storm event if and when it occurs in the state, according to the Florida Office of Insurance’s 2015 Data Call and subsequent stress test report. The annual Reinsurance …
