Citizens Property Insurance Corporation’s president Barry Gilway recently projected the organization’s policy count could reach between 1 million and 1.3 million policies in 2022. Its policy count has been increasing steadily since late last year as adverse market conditions have eroded capital and reduced insurers’ willingness to write policies in several areas of the state. […]
The Florida legislature is returning to Tallahassee and preparing for its upcoming 2021 legislative session. Several key legislative committees hold hearings this week including the Senate Banking and Insurance Committee. The agenda for this week’s Banking and Insurance Committee meeting consists of presentations by Insurance Commissioner David Altmaier and President and Chief Executive Office of […]
Just two weeks into the 2018 legislative session, the Florida House of Representatives and Senate continue to take distinct approaches to the “assignment of benefits” concerns affecting Floridians through increased insurance premiums. The House passed a bill containing reforms directed at the root of the problem– the one-way attorneys’ fee statute against insurers, which has […]
For the auto insurance industry, the potential repeal of Florida’s Personal Injury Protection (PIP), or no-fault, system has become an annual debate. The 2018 legislative session will be no different as both legislative chambers are set to take up the issue. The Florida House of Representatives has advanced a version of PIP repeal that does […]
Insurance committees in both the House of Representatives and the Senate meet today to consider a range of bills. The action begins in the House at 9:00, where the committee will hear HB 715 relating to Citizens Property Insurance Corporation as well as several other measures. In the afternoon, the Senate Banking & Insurance Committee […]
The Florida Senate has been advancing a bill intended to increase private market interest in making flood insurance coverage available to Floridians. However, in light of the complexities of the issue, some Senators are suggesting that recent substantial revisions to the bill should be sent back to the Banking and Insurance Committee for further review. […]
The Senate Banking & Insurance Committee has advanced a bill intended to encourage private market flood coverage in Florida. The bill would allow insurers to offer flood coverage as stand alone policies or as endorsements to existing policies. At a minimum, the flood policies would have to include the deductible options available from the National […]
Citizens Property Insurance Corporation anticipates launching its clearinghouse on January 27, 2014, instead of January 2 as originally intended. Speaking before the Senate Banking and Insurance Committee, Citizens president Barry Gilway said that moving the date back “gives us the opportunity to conduct far more user-acceptance testing, and, with a much more degree of confidence when we […]
David Simmons, chairman of the Senate Banking & Insurance Company, is expected to bring up a proposal for replacing PIP with mandatory bodily injury liability insurance at today’s committee meeting. Senator Simmons has scheduled PIP as a major part of today’s meeting, although no vote is expected on any proposal today. Possible topics arising from an alternative proposal include bodily […]
Rate increases in the federal flood insurance program are drawing the ire of politicians on both sides of the aisle in Tallahassee. Governor Rick Scott recently sent a letter to Florida U.S. Senators Bill Nelson and Marco Rubio stating that he is “deeply troubled” by the impact of flood insurance rate increases on Florida’s economy. […]