‘Assigned benefits’ a hidden property insurance cost (1/29/2015)
A Fla. House member issued a warning about “assignment of benefits” on insurance claims, saying many of them simply empower shady companies to overcharge.
Floridians wary of small property insurers (1/28/2015)
Fla. CFO says creating and publicizing a “stress test” will help instill confidence in the smaller insurers that now dominate Fla.’s property insurance market.
Citizens Insurance continues shedding policies (1/12/2015)
After approving a 93.5K policies “takeout” Fri., the Fla.-owned insurer said an uptick in private insurer interest might help it shrink even more than predicted.
U.S. House plans vote on terrorism insurance program (1/6/2015)
NAR’s Call for Action failed to extend terrorism insurance coverage in Dec., but the issue isn’t dead yet as the 2015 Congress reconsiders the issue.
Congress adjourns without passing terrorism bill (12/18/2014)
A lone senator’s objection derailed passage, and commercial projects will lose coverage or face higher costs Jan. 1. The issue is not dead yet, however.
CEO: Citizens Ins. won’t need taxpayer help in 2015 (12/11/2014)
Even if a once-in-a-century storm hits Fla. next year, the state-owned “insurer of last resort” says it won’t need a taxpayer bailout to help pay expected claims.
Government terrorism insurance program faces lapse (12/4/2014)
Without terrorism coverage, commercial development could slow down, especially in urban areas. NAR issues Call for Action, asks members to help get it passed.
Gov’t, real estate should mitigate disasters more (12/4/2014)
A ULI report looked at U.S. and other countries’ disaster mitigation policies. Its conclusion: Insurers do a good job, but others need to get involved.
New sinkhole standards a problem for some owners (10/20/2014)
Some Fla. homeowners once claimed sinkhole damage against their insurance for even a small crack. But tightened rules hurt owners with legitimate problems.
Scott, Crist split on approach to property insurance (10/9/2014)
Fla. has found it challenging to make property insurance both affordable and readily available, and the gubernatorial candidates approach the problem differently.
Fla.-owned Citizens OKs another 200K policy removals (10/2/2014)
However, only 1 in 10 homeowners offered a change this year actually switched to a private insurer, according to the Florida Office of Insurance Regulation.
Owners who overpaid flood ins. to get refund soon (10/1/2014)
A law that tempers the high cost of flood insurance passed too late for some homeowners, but their rebate checks will be sent out shortly, according to FEMA.
Renters need insurance – but few have it (9/26/2014)
63% of renters don’t insure their home, making them vulnerable to damage from hurricanes, fire, lightning, theft, explosion and other disasters.
State-backed insurer may put early end to storm tax (9/22/2014)
A new 1% reduction in Fla.’s “insurance tax” on all policies will be decided Wed. Two months ago, regulators nixed a similar 1.3% surcharge effective Jan. 1.
Fla. regulators approve Citizens’ 2015 rates (9/8/2014)
Overall, the changes will result in an average 2.7% decrease for residential policyholders that rely on the state-owned insurance company.
Citizens seeks rate cuts for inland homeowners (8/28/2014)
The Fla.-owned property insurer wants to reduce average base rates on most policies for the first time since a move to artificially lower rates ended in 2009.
Fla. 1 of 4 states where insurers snub credit scores (8/20/2014)
A good credit score does more than snag a lower mortgage rate. Nationwide, it costs low-score owners 91.4% more for property insurance – but it’s 0% more in Fla.
Fla. OKs removal of 97,231 Citizens Ins. policies (8/11/2014)
The Office of Insurance Regulation approved four companies to take residential and commercial policies. So far this year, 466,572 have been OK’d for take-out.