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.
U.S. Senator blocks terrorism insurance (12/17/2014)
It appears an extension of the federal backstop for terrorism insurance is less likely to pass this year before Congress’ annual holiday break.
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.
Citizens to warn owners about proposed ‘takeouts’ (12/10/2014)
Currently, homeowners don’t know that Fla.-owned Citizens Ins. has offered to transfer their homeowners insurance policy until the private insurer sends a letter
How safe is your Florida property insurer? (12/9/2014)
The Palm Beach Post created a property insurance consumer guide that includes complaint numbers, ratings and a comparison of Fla.’s lesser-known companies.
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.
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%.