South Florida lawmaker wants proof of insurers’ claims of abuses
water damage claims, Senate Banking and Insurance Committee, assignment of benefits, property insurance, Insurance Regulation News, Florida Legislature
News & Updates
assignment of benefits
House panel stages civilized discussion of assignment of benefits reform
assignment of benefits, Insurance regulation new, property insurance, Florida Legislature
2016 Brought Its Share of Novel Issues
As 2016 winds to a close, we can look back and see the impact this year’s events had on the Florida insurance market. In the property and casualty sector, we saw two hurricanes affect Florida after a decade without hurricanes. Fortunately, Hurricane Hermine remained a relatively small storm, and Hurricane Matthew stayed just offshore enough […]
Water Damage Crisis Prompts Proposed Citizens Rate Increases
Continuing concerns with water damage claims issues have prompted the Board of Governors of Citizens Property Insurance Corporation to sign off on a proposed 6.8 percent statewide rate increase. This reflects the average rate change, with some territories experiencing greater increases. In addition, the amount that Citizens can increase any policyholder’s rates is capped by […]
Hurricane insurance scam driving up Florida premiums
property claims, assignment of benefits, property insurance, Insurance Regulation News, hurricane season, Citizens Property Insurance Corporation
Special Report: Execs Warn of Impending Florida Market Crisis Over Water Loss Claims
water loss claims, AOB Claims, assignment of benefits, property insurance, Insurance Regulation News, Kevin McCarty, Citizens Property Insurance Corporation
Citizens Raises Concerns with Lack of AOB Reform
Citizens Property Insurance Corporation’s president Barry Gilway and members of its board recently expressed concern that increased water damage claims and the “assignment of benefits” issue could adversely affect Citizens’ depopulation efforts. Water damage claims and the AOB issue are leading to rate increases, particularly in in South Florida where the issues are most prevalent. […]
2016 Starts Faster Than Most
Each year seems to go by quickly, and the holidays always seem too short. The ball has barely dropped in Times Square before we are back to work thinking about what is in store for the next year. If it seems like this is taking place faster than usual in 2016, it is not our […]
2015 Ends on a Storm-Free Note
As 2015 comes to a close, several aspects of this year’s insurance market stand out. Each year presents its share of successes and its share of challenges, which is expected in a cyclical industry. However, on balance we will remember 2015 for its continued stability in several key insurance markets. In Florida, our view of […]
Florida insurers’ appeal, over assignment of benefits, rejected by court
Florida First District Court of Appeal, assignment of benefits, Insurance Regulation News