Capitol to Courthouse Florida Insurance Report – Thursday, August 17, 2017

 

Citizens’ Change OK’d, Leaving Insured With Tough Choices

A water pipe breaks inside a wall of your house while you are at work, if you’re a Customer of Citizens Property Insurance Corp., you will soon face Two Choices.  The Sun-Sentinel’s Ron Hurtibise reports.

 

Palm Beach County Citizens Rate Hike Blamed On Questionable Lawsuit Claims

Florida’s Insurer of last resort blames Lawsuits Over Water-Damage Claims as the driving reason it wants Palm Beach County Homeowners to pay a 9.3 percent Rate Hike, rivaling the more than 10 percent Increases Proposed for Miami-Dade and Broward Counties.  Charles Elmore reports for the Palm Beach Post.

 

25 Things to Remember on The 25th Anniversary of Hurricane Andrew

At the time, nobody knew the newly named tropical system near the Cape Verde Islands would, a week later, barrel into Florida on Aug. 24, 1992 as a Category 5 Hurricane.  Josh Solomon reports for the Tampa Bay Times.

 

PCI’s McFaddin:  Florida Residents Must Prepare For Hurricane Risk

The most active part of Hurricane Season is beginning, with Forecasts anticipating 14 to 19 Named Storms, and Florida Residents should prepare now in case a major storm hits the State.  Writes Logan McFaddin of PCI.

 

Florida Flood Risk Study Identifies Priorities For Property Buyouts

A Study of Flood Damage in Florida by Scientists at UC Santa Cruz and the Nature Conservancy proposes prioritizing Property Buyouts based on Flood Risk, Ecological Value, and Socioeconomic Conditions.  Phys.org reports.

 

What You Need to Know About Homeowners Insurance In Hurricane-Prone States

The risk of Hurricanes makes buying Homeowners Insurance in Florida and some other States much more complex and expensive than it is in many other areas.  Kimberly Lankford writes for Kiplinger.com.

 

HCI Group Subsidiary Homeowners Choice Approved To Write Flood Insurance in Maryland

HCI Group, Inc. announced today that its Wholly-Owned Insurance Subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc., has received Regulatory Approval to write Flood Insurance in Maryland.

 

Tom Lee Reintroduces Two Insurance-Related Bills For 2018 Session

Republican Senator Tom Lee of Thonotosassa doesn’t give up easily.  SaintPetersBlog.com’s Joe Henderson explains.

·         PIP:  Driver Savings Up to $1B at Stake as Senate Bill Renews Fight

 

They Got Hurt At Work. Then They Got Deported.

While Florida’s Statute is Unique, Insurers, Hardline Conservatives and some Large Employers have been battling across the Country for the past 15 years to Deny Injury Benefits to Unauthorized Immigrants, with occasional success.   NPR and ProPublica report via NationalMemo.com.

 

Jimmy Patronis Considering CFO Run

Jimmy Patronis, Florida’s New Chief Financial Officer, said Wednesday he is starting a Political Committee but hasn’t decided if he will Run for the Cabinet Office next year.  MyPanhandle.com reports.

 

Florida Realtors Kick Off “Amendment 2 Is For Everybody” Campaign

The Florida Realtors Officially Kicked Off its Campaign to Pass Amendment 2, which gives Voters the chance to make a 10 percent Cap on Annual Non-Homestead Property Tax Increases Permanent.  SaintPetersBlog.com’s Peter Schorsch reports.

 

Florida Bans Future Investments In Maduro’s Venezuela

Florida Governor Rick Scott easily won Approval Wednesday for a Proposal to bar the State’s $150 Billion Pension Plan from making future Investments that Directly Support the Regime of President Nicolas Maduro in Venezuela.  The Associated Press reports via the Tampa Tribune.

 

Fitch:  Higher Insurer Costs To Result From NAIC Data-Security Model Law

Fitch says the Data-Security Model Law Approved by the National Association of Insurance Commissioners is likely to Raise Compliance Costs for Insurers and Increase the Risk of Penalties.  PCI SmartBrief reports.

 

 

 

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