Florida rethinks wind mitigation inspections
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News & Updates
wind mitigation
Scott Campaign Releases Insurance Platform
Rick Scott’s campaign for Governor has released a paper on insurance and tort reform issues. Candidate Scott vows to restore Citizens Property Insurance Corporation to its initially envisioned role as a market of last resort. He emphasizes the importance of allowing the private market to compete amongst themselves, with competition serving as the primary determinant […]
Citizens Provides Reinspection Results
A Citizens Property Insurance Corporation committee recently discussed results of its reinspection program for wind mitigation features. The reinspection of 1500 personal residential risks has identified changes in data for 90% of the policies and changes in premiums for 75% of the policies. The categories of roof cover, roof deck attachment, roof to wall attachment […]
Property Bill Goes to the Wire; Cost Drivers at Issue
The 2010 legislative session begin with fairly widespread recognition that the residential property insurance market in Florida has been set back by several “cost drivers” warranting legislative attention. The Florida Cabinet held discussions about why insurers have been losing money in recent years even without hurricanes affecting the state. Insurance Commissioner Kevin McCarty identified for […]
FSU Catastrophe Center Discusses Mitigation Discounts
The Florida Catastrophic Storm Risk Management Center has released a report discussing implementation of Florida’s mitigation discount program for residential property insurance. This report is the third in a series of recent studies identifying significant concerns with the way the current system of mitigation discounts has affected the residential property insurance market. The Florida Commission […]
Final Report Discusses Mitigation Discount Process
The Florida Commission on Hurricane Loss Projection Methodology has released its final Windstorm Mitigation Discounts Report discussing problems with the current mitigation discount process and recommending a series of potential solutions. The 2009 Florida Legislature asked the modeling commission to review the current process by which personal and commercial residential policyholders receive discounts on their […]
Fraud, inefficiency plagues Florida’s wind mitigation program, report says
wind mitigation, Florida Commission on Hurricane Loss Projection Methodology, Citizens Property Insurance Corporation