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Citizens Property Insurance Corporation continues to add policies at an alarming pace at the onset of this year’s Atlantic hurricane season. Citizens recently hit a weekly total of 12,000 new policies as its total policy count approaches 900,000. With Citizens being the largest residential insurer in Florida, its current policy count is much higher than […]
The Florida legislature has released its multi-faceted proposals for reforming Florida’s property insurance market. The proposed legislation includes temporarily expanding available capacity from the Florida Hurricane Catastrophe Fund, incentivizing loss mitigation through windstorm protective devices, increasing regulatory oversight for distressed insurers, and curbing Florida’s litigation crisis by rebalancing attorneys’ fee incentives. To effectively address Florida’s […]
The Florida House of Representatives and Senate have released their proposals for next week’s special session on property insurance reform. The special session follows last month’s call from Governor Ron DeSantis for a special session dealing with the crisis in Florida’s residential property insurance market. Reinsurance Protection Although their proposals are subject to change when […]
Governor Ron DeSantis’ proclamation declaring a special session on property insurance identifies its scope and provides insight into the upcoming debate. The proclamation specifies the special session will consider (a) property insurance, (b) reinsurance, (c) changes to the Florida Building Code to improve the affordability of property insurance, (d) the Office of Insurance Regulation, (e) […]
Insurance Regulation News, property insurance, special session, Florida Office of Insurance Regulation, Governor Ron DeSantis
The residential insurance market in Florida has experienced years of deterioration resulting in decreased availability of private market options, reductions in coverage and rising insurance premiums. As has been well established by the Florida Office of Insurance Regulation and others, Florida never really had a sinkhole problem, a mold problem, or a water damage problem…. […]
Florida Legislature, Insurance Regulation News, property insurance, special session, Florida Hurricane CAT Fund
Florida Legislature, Insurance Regulation News, property insurance, special session, Governor Ron DeSantis
Florida Legislature, Insurance Regulation News, property insurance, special session, Governor DeSantis, SB 76
Florida Chief Financial Officer Jeff Atwater has announced that June 30 will be his last day on the job, coinciding with the end of Florida’s fiscal year. Atwater is leaving his CFO position to become a vice president at Florida Atlantic University. Atwater previously announced his resignation as of the end of the 2016 legislative […]
