All the headlines from our Florida Topic Page, ordered by recency.
Aug 11 2022 // The volume of claims litigation in Florida rose in June then declined in July by almost the same amount. But the share of cases that are assignment-of-benefits claims rose to the highest level since early 2021, a...
Aug 9 2022 // Two major Florida P&C insurers have announced second-quarter financial results. The news is a mixed bag, and was not unexpected.In an earnings call Monday, executives with publicly traded United Insurance Holdings...
Aug 8 2022 // Florida’s agriculture commissioner, a Democratic candidate for governor, is on board with what many in the insurance industry have been asking for: utilizing the state’s hurricane catastrophe fund to provide...
Aug 8 2022 // In the year 2100, Fort Myers, Florida will see only one day in which nuisance high tide flooding isn’t an issue. And Naples will be flooded by incoming tides every day, according to the latest tide predictions coming...
Aug 4 2022 // Eight Florida men have been charged with contracting without a license and failing to obtain workers’ compensation insurance, after a sting operation led by state and local authorities. The Manatee County...
Aug 4 2022 // Weston Property & Casualty Insurance Co. is insolvent and should be placed into receivership, making it the fifth Florida property insurer this year to be dissolved, according to state regulators.The Florida Office of...
Aug 3 2022 // The Demotech financial review firm has withdrawn the stability ratings for two more property insurance companies, Bankers Specialty Insurance and First Community, both part of Bankers Insurance Group.The companies are...
Aug 2 2022 // Just two weeks after the Demotech financial rating firm set off a firestorm of controversy by warning that it could soon downgrade as many as 17 Florida property insurers – then promised to hold off – the firm has now...
Aug 1 2022 // Florida Gov. Ron DeSantis has reappointed venture capitalist Erin Knight to the Citizens Property Insurance Corp. board of governors, the governor’s office announced.Knight, of Coral Gables, was appointed a year ago...
Aug 1 2022 // The recent brouhaha regarding Demotech and its Financial Stability Ratings (FSRs) of as many as 20 Florida insurers has now come full circle…almost. One important question remains unanswered.Before answering the...
Aug 1 2022 // Florida’s top insurance regulators and the Florida Association of Insurance Agents in late July blasted the Demotech financial rating firm after the organization reportedly notified 17 insurers that they will soon be...
Jul 28 2022 // Another property insurer has halted writing new policies in Florida.For homeowners, condominiums and rental properties, “new business will be paused temporarily until further notice,” American Traditions...
Jul 28 2022 // United Insurance Holdings, parent of United Property & Casualty Insurance, said it has completed most of its major reorganization plan, consolidating its four Florida-based carriers into two.The news was accompanied by...
Jul 28 2022 // Insureds cannot recover damages from the insurance company if they failed to comply with the policy and failed to allow the insurer to make the needed repairs, a Florida appeals court decided Wednesday.Florida’s 3rd...
Jul 27 2022 // Florida’s insurance commissioner announced today that his office has found an “unprecedented solution” to the looming property insurer rating crisis – let Citizens Property Insurance Corp. provide a...
Jul 27 2022 // U.S. Rep. Charlie Crist, the Democratic frontrunner for governor of Florida, this week sharply criticized incumbent Gov. Ron DeSantis for failing to solve the state’s property insurance crisis.“Ron DeSantis has...
Jul 26 2022 // Rating Firm Postpones Ratings for 17 Carriers After BacklashThe property insurance community has divided into two camps after the firestorm that erupted over the potential financial rating downgrades for 17 Florida...
Jul 25 2022 // MEXICO BEACH, Fla. — Standing on the deck of the new Driftwood Inn, 31/2 years after Hurricane Michael obliterated the old one, Tom Wood spoke of the months after the storm.One of his daughters had urged him and his...
Jul 21 2022 // Florida’s top insurance regulators and the Florida Association of Insurance Agents on Thursday blasted the Demotech financial rating firm after the organization reportedly notified 17 insurers that they will soon be...
Jul 21 2022 // In 2021, Florida’s domestic property insurers spent more than $3 billion on legal defense costs and containment – double the figure reported in 2016.That’s one jaw-dropping but not surprising takeaway from...