In a big change, Citizens expects more customers in 2017 (6/22/2016)
After years of losing customers, state-run Citizens expects to gain them in 2017, mainly because competitors want to raise rates up to 25% in parts of South Fla.
Citizens seeks rate hike over water claims (6/21/2016)
The state-backed insurer wants an average of 6.8% statewide for 2017, as water-damage claims rise. Wind-only policies would grow on average 8.3% across Fla.
Can anything be done about higher insurance costs? (6/16/2016)
Homeowners’ attorneys, water restoration companies, insurance agents and public adjusters met yesterday to discuss the rising cost of Fla. property insurance. Leaders hope the discussion’s reasonable tone leads to some kind of consensus.
State flags assignment of benefits restrictions (6/9/2016)
Fla.-owned Citizens was granted permission to limit Assignment of Benefits policy coverage, and private insurers quickly asked for the same right. But some requested more restrictive changes and the state turned them down.
How will Fla.’s smaller insurers handle a crisis? (6/1/2016)
Fitch Ratings: The state’s smaller insurers have enough money, but their lack of post-crisis experience could create problems should a hurricane target Fla.
FEMA wants to reform flood insurance program (5/27/2016)
After Superstorm Sandy, many homeowners turned down for coverage found FEMA’s appeals process frustrating. In the future, FEMA wants to provide more help.
Florida names new insurance commissioner (5/2/2016)
David Altmaier could significantly impact Fla. homeowners over the next few years as he tries to keep property insurance costs reasonable but insurers solvent.
Flood insurance solution takes big step forward (4/29/2016)
The U.S. House passed a bill that makes it easier for owners to get private flood insurance or return to national coverage without penalty. It now goes to Senate.
Freddie: Climate change a concern for housing (4/28/2016)
Property insurers consider many statistics to calculate rates, and a Freddie Mac suggestion to also include climate change could alter some owners’ coverage.
Mitigation key for flood program reauthorizations (4/7/2016)
We should prepare for floods rather than make repairs later – and figure out how to do it without more gov’t money, says Florida Realtors Pres.-Elect Maria Wells.
Citizens says private insurers plan to drop coverage (3/17/2016)
The Fla.-owned insurer claims that private firms will move 24K policies back into Citizens because the Fla. Legislature ignored assignment-of-benefit abuses.
U.S. responds to flood insurance cost complaints (3/11/2016)
A report on flood insurance looked at ways to help cut skyrocketing costs, but the top suggestion – a discount based on the owner’s income – isn’t easy to do.
Study: Fla. costliest state for property insurance (2/25/2016)
National Association of Insurance Commissioners says Floridians pay nation’s highest home insurance premiums at $2,115 yearly – an increase from $2,084 one year earlier.
What do you know about home insurance? (2/10/2016)
Key aspects of homeowner’s and renter’s insurance continue to confuse many Americans, according to a report from the Insurance Information Institute.
Citizens Ins. recovers $4.2M in claim payouts (2/5/2016)
The Fla.-owned insurer says it recouped the money and legal fees from people and companies that were ultimately responsible for damages that Citizens paid.
Fla.’s Insurance Commissioner stepping down (1/6/2016)
Kevin McCarty steps down May 2. Since 2003, he has influenced Fla. property insurance rates and directed the program to shrink Fla.-owned Citizens Ins. A replacement has not been named.