Category: Florida Insurance and Political Headlines

South Florida’s commercial insurance rates have “dodged a bullet” after weathering a series of natural disasters. It was expected for rates to spike from 10% to 25% in 2018, but after the first quarter, the increases weren’t what was assumed …

An appellate court in Florida has ruled that homeowners who repaired water damage to their home before filing a claim with their insurer could not recover their loss under their policy because they had prejudiced their insurer’s ability to investigate …

Memorial Day weekend and hurricane season might not sound like they belong in the same sentence together, but recent years have shown us how the tropics can ruin the unofficial start of the summer. Two of the past six years …

The Florida Hurricane Catastrophe Fund has reserves enough to easily cover its Hurricane Irma liabilities — as much as $300 million in excess of its $17 billion statutory liability limit. But what happens if a major storm — or a …

Gov. Scott announced this week that the Department of Economic Opportunity had submitted a plan that would see Florida use $616 million in federal disaster recovery funds to build new affordable housing and provide grants to severely impacted businesses. “Even …

Hurricane season is just around the corner, and the City of Tallahassee is encouraging residents to learn and prepare at a June 2 event. The fourth annual “Build Your Bucket” disaster preparedness expo will run from 9 a.m. to noon …

Chief Financial Officer Jimmy Patronis is trying to bring the public into his campaign to force disclosure of lobbying targeting Citizens Property Insurance Corp., Florida’s property insurer of last resort. Patronis wrote to Citizens executives earlier this month, serving notice of his …

Expansion, greater diversification and focus away from Florida may have helped Heritage at its latest reinsurance renewal, which the firm says it has achieved at attractive pricing.  Artemis.bm reports. http://www.artemis.bm/blog/2018/05/10/heritage-said-reinsurance-costs-rise-just-1-as-it-completes-renewal/

“Sovereign immunity,” a legal fiction as outdated as the divine right of royalty, explains the harsh warning that the families of Marjory Stoneman Douglas High School have been hearing from the Broward School District’s insurance company.  The Sun-Sentinel Editorial Board …

California, Texas, Florida and New York suffered the greatest financial losses due to cybercrime in 2017, according to the FBI’s annual Internet Crime Report.  State Scoop’s Benjamin Freed has the story. https://statescoop.com/here-are-the-top-10-states-for-cybercrimes-in-2017