News
Steve Pociask: Protecting Florida’s insurance consumers
For years, Florida’s property insurance crisis has remained unsolved, with an ever-building mountain of unfunded debt obligations building up, driving up consumer costs, creating unnecessary risk and uncertainty, hampering Florida’s economic recovery, and discouraging insurance competition for your business.
CAT Fund Needs Immediate Action
For years, Florida’s property-insurance crisis has remained unsolved, with an ever-building mountain of unfunded debt obligations building up, driving up consumer costs, creating unnecessary risk and uncertainty, hampering Florida’s economic recovery and discouraging insurance competition for your business.
Bill to reduce hurricane assessments breezes through Senate panel
Legislation that would all but eliminate regular assessments on homeowners’ policies in the aftermath of a catastrophic storm easily moved through the Senate Banking and Insurance Committee Thursday, passing with a unanimous vote.
Cat Fund, Citizens need reform
The end of the year is often a time of reflection. Looking back on 2011, Florida, thankfully, avoided a hurricane landfall for an unprecedented sixth consecutive year. While this string of good luck won’t last indefinitely, the new year brings about an opportunity to reform Citizens Property Insurance Corporation and the Florida Hurricane Catastrophe Fund …
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Insurance & Banking Subcommittee to Review FHCF Proposal
The Insurance & Banking Subcommittee of the Florida House of Representatives is scheduled to hold a workshop today to consider proposals for shrinking the Florida Hurricane Catastrophe Fund. Jack Nicholson of the FHCF has advanced a proposal that will reduce the size of the FHCF, increase the industry’s retention, and increase the cost of FHCF …
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PIP and Citizens: Two challenges for legislators
Gov. Rick Scott wants lawmakers to fix a pair of auto and property insurance issues that are costing Floridians hundreds of millions of dollars but have eluded resolution for more than a decade.
First Do No Harm
We’ve heard the phrase before in many contexts– first do no harm. Let’s hope this line of thinking applies to the 2012 legislative session, particularly as it relates to Florida’s residential property insurance market. Governor Rick Scott issued a challenge several months ago for Citizens Property Insurance Corporation to dramatically reduce its exposures. Unfortunately, its …
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Seismic reform needed for CAT fund
Looking back on 2011, Florida thankfully avoided a hurricane landfall for an unprecedented sixth consecutive year.
Guest opinion: Reinsurance industry is crucial to Florida’s tropical storm and hurricane coverage
As the media reports on insurance-related matters throughout Florida, especially with regard to the state-run Citizens Property Insurance Corporation and Florida Hurricane Catastrophe Fund, the term reinsurance is one that is frequently used but sometimes misconstrued.
New Year to Start Fast for Insurance and Other Issues
The holiday season always seems to pass too quickly. After an extended period of unwinding and spending time with families and friends, the new year always brings an abrupt end to this relaxed pace as we return to work, children return to school and we pick up where we left off. This will especially be …
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Patching Florida’s catastrophe fund
Florida rolls the dice with citizens’ dollars every hurricane season. A sensible proposal by Boca Raton Republican Rep. Bill Hager would halt the reckless gambling.
Property Insurance Crisis: Funding Vs. Exposure
Florida’s property-insurance crisis can be summed up in two words: Underfunded. Overexposed.
Citizens Board Opposes Cat Fund Reduction
The Board of Governors of Citizens Property Insurance Corporation voted 5-3 to oppose legislation designed to reduce the size of the Florida Hurricane Catastrophe Fund. The FHCF is Citizens’ primary source of reinsurance. The FHCF has been promoting a plan to reduce its size through a combination of decreasing its maximum liability, increasing the co-participation requirement, and increasing …
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Florida relying on luck with hurricanes
Are you feeling lucky? No hurricane has made landfall on the Sunshine State in recent years, despite having active hurricane seasons.
Taming Florida’s Hurricane Catastrophe Fund
They Say, Hearsay First, politicians let Citizens Property Insurance and the Hurricane Catastrophe Fund grow. Now, there is all this talk about shrinking both of them, and I hear that will make my insurance bill rise. Where’s this sense of urgency coming from? Seems like we’ve got people crying wolf for no good reason.
