Citizens changes tack, will cover homes with prior sinkhole claims
homeowners, sinkhole insurance, residential insurance, Office of Insurance Regulation, Citizens Property Insurance Corporation
News & Updates
sinkhole insurance
Commissioner McCarty Identifies Top Five P&C Issues
Florida Insurance Commissioner Kevin McCarty has been discussing the “cost drivers” affecting Florida’s property insurance market since last year’s legislative session. As the 2011 session draws near, Commissioner McCarty continues to identify the key factors affecting property and casualty insurers in Florida. McCarty top five issues include the following: 1. Attracting Capital– Commissioner McCarty points […]
OIR report shows sinkhole insurance claims growing in South Florida, driving some rate hikes
sinkhole insurance, Insurance Regulation News, Office of Insurance Regulation
OIR to Review Sinkhole Claims Problem
The Office of Insurance Regulation has heard reports of increased frequency for sinkhole claims, particularly in areas of Florida that are not usually identified with sinkhole problems. Mounting sinkhole losses for Citizens Property Insurance Corporation and admitted market insurers have prompted the OIR to send a data call to insurers to develop more information from […]
Banking and Insurance Committee to Conduct Interim Projects
The Banking and Insurance Committee of the Florida Senate has announced its interim projects in anticipation of the 2011 legislative session. The committee staff will conduct project 2011-104 relating to sinkhole insurance, with a report due by October 1, 2010. The project summary notes that Florida has a large number of sinkholes, and problems in […]