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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…. […]
Citizens Property Insurance Corporation, Office of Insurance Regulation, Travis Miller, Radey, Florida Senate, attorneys fees, Florida House of Representatives, radeylaw, water damage, assignment of benefits, AOB, water damage claims
As we begin 2017, we can expect some of the high profile issues addressed early in the year to be continuations of issues that gathered significant attention in 2016. One of the hottest topics early in the year is likely to be the state of Florida’s workers’ compensation insurance market. Beginning with reforms made in […]
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 […]
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 […]
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. […]
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 […]
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 […]
Insurance Consumer Advocate Sha’Ron James recently told the House of Representatives’ Banking & Insurance Subcommittee that the assignment of benefits issue is a priority for her office in the 2016 legislative session due to the adverse impact it is having on consumers. While she indicated that her office is still evaluating the issue and is […]
Citizens Property Insurance Corporation recently received approval of its 2016 rates, which will go into effect February 1, 2016. The rates as approved by the Florida Office of Insurance Regulation are similar in the aggregate to those filed by Citizens, although the OIR made some adjustments in approving the final rates. The statewide average rate […]
