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.
Citizens negotiating ‘managed repair program’ (4/20/2016)
The Fla.-owned property insurer hopes to oversee all repairs following a damage claim, and private insurers may follow its lead. But program details remain hazy.
Citizens takeout owners get side-by-side comparisons (4/18/2016)
If a private insurance “takeout” targets an owner with Fla.-owned Citizens property insurance, he must now be given a rate comparison of his options.
More insurers request water repair limits (4/15/2016)
Fla.-owned Citizens was granted new restrictions for water damage claims, and 11 other private insurers have since asked the state to approve similar rules.
The clock is ticking on flood insurance reform (4/8/2016)
NAR Pres. Tom Salomone, others say national flood insurance reform is needed to lower taxpayers’ costs and the economic impact of disasters: NFIP is currently $23B in debt.
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.
Got flood insurance? Rates go up today (4/1/2016)
On April 1, flood rates move incrementally higher as required by law – an average 9% nationwide – but the impact on any single property varies greatly.
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.
Citizens clarifies policy language for water losses (12/10/2015)
If approved by OIR, the Fla.-owned insurer will mandate a pre-inspection of water damage claims, a 72-hour filing window and a limit on the extent of repairs.