News
Wise Veto
Among the measures Gov. Rick Scott vetoed on Friday was one that would have created more problems for the state’s cash-strapped catastrophic hurricane insurance fund than it would ever have solved.
Regulators Help Finalize $500 Million Multistate Settlement with MetLife Insurance
MetLife Inc. may have to pay up to $500 million over its handling of death benefits from life insurance policies issued decades ago. The deal, part of a multistate probe headed by Florida insurance investigators, also requires MetLife to improve its system for identifying unclaimed life-insurance policies.
Citizens’ policy count dips, but too soon to tell whether reduction plan has role
The number of policies backed by Citizens Property Insurance Corp. fell by 2.4 percent over the past two months, but Citizens officials say it is premature to determine whether or not new measures enacted by its board in February aimed at reducing its risk are having their intended effect.
Legislature blew it on Cat Fund
Just weeks ago the Florida Legislature ended its regularly scheduled session, and while some important legislation that benefits the citizens of this great state passed, legislation to address the much-needed reform of the Florida Hurricane Catastrophe Fund failed.
Florida makes progress on property insurance reform
Florida officials have taken a welcome and overdue step to downsize Citizens Property Insurance Corp., the state-created insurer.
Florida insurers expect efforts to beat PIP reforms
TALLAHASSEE — Payments to chiropractors and massage therapists for treating injured motorists soared over the past decade — a 251 percent increase in massage claims alone from 2007 to 2010 — sending premiums for the no-fault auto insurance that paid for the treatment through the roof.
Gov. Scott signs bill to reduce insurance assessments
A bill signed by Gov. Rick Scott will reduce the burden on customers of other insurers by more than $300 each if a bad storm rocks Citizens, the state’s insurer of last resort, officials said Tuesday.
PIP reforms may not deliver for consumers
Florida lawmakers and Gov. Rick Scott were quick to congratulate themselves for legislation aimed at curbing fraud and abuse under the state’s auto accident insurance law, which passed on the last day of the legislative session.
Lawmakers and Gov. Rick Scott made curbing fraud in the state’s no-fault car insurance a high priority
TALLAHASSEE — The long list of suspected car insurance scammers now includes food truck vendors. The state Division of Insurance Fraud reported last week that 15 people have been using restaurants-on-wheels in Miami to stage accidents and collect hundreds of thousands of dollars in insurance money.
Viewpoint: PIP reform finally fights fraud
If at first you don’t succeed, try, try again. That famous quote, a favorite of moms everywhere, may never have been so true as when applied to the multi-year effort to pass reforms to our state’s personal injury protection insurance law (PIP). Of course, some may have gone the route of Mark Twain when he …
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State Considering New Rules on ‘Public’ Adjusters
Revisiting an issue that has drawn heavy debate in the insurance industry, state officials on Thursday heard arguments about new regulations on adjusters who are hired by property owners to handle claims.
Post exclusive: ARE TITLE FEES FAIR? Florida costs highest in the Southeast
The title insurance business is making a lot of money for folks like William P. Foley II, the highest-paid Fortune 500 executive in Florida in 2010. Total compensation: more than $27 million from companies including the nation’s largest title insurer.
At long last, PIP reform in Florida
If at first you don’t succeed, try, try again. That famous quote, a favorite of moms everywhere, may never have been so true as when applied to the multi-year effort to pass reforms to our state’s personal injury protection insurance law (PIP).
Grading the Legislature
If last year’s legislative session was a yell, this year’s session was a yawn. The legislature did what it had to do — redistricting and budgeting — and little else.
Insurance companies could buy up to $150 million a year in tax credits under Alexander plan
Insurance companies could get up to $150 million a year combined in credits against their insurance-premium or corporate-income taxes, under a last-minute plan hatched Thursday by Senate Budget Chairman JD Alexander to raise money for the state’s public hurricane-insurance fund.
