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.
425,000+ Citizens policies approved for removal (9/5/2014)
Fla. regulators announced that more policies could be removed from the state-owned insurer on Nov. 16, though fewer will actually make a switch.
Citizens sending renewal customers to clearinghouse (9/3/2014)
Homeowners with Fla.-owned Citizens Ins. coverage will face choices when it’s time to renew. And if a private insurer offers cheaper coverage, they must take it.
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.
Citizens offers settlements on 600 sinkhole claims (7/30/2014)
The Fla.-owned property insurer offered a deal it hopes will end litigation alleging that it failed to properly deal with homeowners’ sinkhole damage claims.
NAR to Congress: More work to do on flood insurance (7/24/2014)
In testimony before a Senate committee, NAR told lawmakers’ that recent flood insurance changes have stabilizes the housing market – but they must do more.
‘Hurricane tax’ on policies to end 18 months early (7/23/2014)
It’s official: Fla. agency confirms that a 1.3% extra charge added to all property and auto insurance policies will end on Jan. 1.
Flood insurance refunds to begin Oct. 1 (7/21/2014)
All homeowners who deserve a flood policy refund because they paid a higher rate before Congress changed the program should receive money back before Dec. 31.
Citizens Insurance Corp. board approves 2015 rates (6/27/2014)
While Fla. must still sign off on lower rates for state-owned Citizens, the average homeowner should save $159 yearly – but rates will go up for some.
Citizens delays expansion of clearinghouse (6/26/2014)
The clearinghouse will compare private insurance policy rates to Citizens Ins. rates when a homeowner renews, but the new procedure is delayed until Nov. 1.
Citizens wants to lower property insurance rates (6/24/2014)
Almost 70% of homeowners covered by the Fla.-owned insurer could see lower rates in 2015, with an average savings of 3.2%; mobile homes could see 3.9%.
Gov. Scott signs Fla. flood insurance bill (6/16/2014)
The new law, effective immediately, encourages private insurers to enter the Fla. market by giving them rate-setting flexibility and reduced regulatory burdens.
Flood insurance price break starts today (5/1/2014)
Buyers of older pre-FIRM properties will receive a premium rate reduction under the new law; and Florida Realtors released a flood insurance disclosure update.
Private insurer to take up to 10K Citizens policies (4/30/2014)
State officials approved the move by Southern Oak Insurance Company, though many homeowners will have a chance to deny the change.
Review insurance polices: Storm season approaches (4/28/2014)
Spring brings tornadoes and hurricane season starts June 1. Consumer Reports suggests steps homeowners should take now. Note: Flood insurance has 30-day delay.
Fla. policyholders less likely to get stuck by a Citizens loss (4/25/2014)
The state-owned insurer bought more reinsurance. For homeowners with private insurance policies, that means their surcharge risk dropped 80% in three years.
New insurance emerging to cover cyber attacks (4/21/2014)
Could a hacker steal client data – and if so, who would pay for the damage it causes? Cyber insurance, still in its infancy, offers a new type of protection.
Fla. to insurers: No deductible for crime damage (4/17/2014)
If a crime causes damage to a home, the owner doesn’t have to pay a property insurance deductible under a 1994 Fla. law – but some insurers still charge it.
In May, some flood policy costs revert to 2013 levels (4/15/2014)
FEMA issued guidelines today for insurers that sell flood policies. In May, the cost for certain affected policies revert to the amount charged before Oct. 2013.
Most force-placed insurance following new rules (4/14/2014)
Change now impacts more than 90% of Fla. policies forced on homeowners by lenders. Fla. review found many practices hurt state’s insurance consumers.
Fla. in top 10 for non-flood water damage (4/8/2014)
According to State Farm, Fla. ranks No. 8 in the number of insurance claims for damage from burst water pipes and other non-flood related water damage.
FEMA issues flood insurance update (4/4/2014)
FEMA explains how it will implement the latest flood insurance law in a seven-page memo. In the short term, some owners may have to pay the old higher rates.
FEMA outlines next steps for flood insurance law (3/27/2014)
Expect it to take up to 14 months to update rules and systems – buyers may have to lobby FEMA to get seller’s rate. New deductible option may help down the road.
Flood insurance relief becomes law (3/24/2014)
Pres. Obama signed the bill Friday, negating the need for Florida Realtors flood insurance disclosure. But change will take time as insurers tinker with software.