A move to revamp the state-backed property insurer of last resort into Florida’s main wind carrier, a plan dubbed “Citizens 2.0,” appears to have died in the Legislature this year. But other insurance-related bills are still alive, and the governor’s … ...
FOX 13's political editor Craig Patrick dives into what state lawmakers are hoping to accomplish as they gather for a special session this week. They are hoping to address the property insurance crisis in Florida. TALLAHASSEE, Fla.-Florida's speciallegislative sessionon property insurance...
The article reports on the major legislative, regulatory and market developments of property insurance in Florida. It outlines the state's metamorphosis into a full-fledge market competitor and the deliberate steps the state took in making the transition. It notes that the 2006 Legislature created ...
The Legislature has done a great job tackling tort reform specifically as it relates to insurance contracts. They eliminated assignment of benefits because there was so much fraud in the system due to AOBs. Mia McKown: AOBs? Beth Vecchioli: Assignment of Benefits. And this past special ...
Life Insurance Claims(2) Overhead and Profit(2) PIP(1) Pipeburst(4) Property Damage(13) Property Insurance(35) Property Insurance Rates(17) Right to Repair(2) Sinkholes(7) Sunken Boat(1) Sworn Proof of Loss(3) Tropical Storms(21) ...
The Florida Legislature will meet next week for a special session on property insurance and property tax relief in the wake of damage caused by Hurricane Ian. The state's property insurance system is in turmoil, with six insurers being declared insolvent
About Citizens home insurance Citizens Property Insurance was created in 2002 by the Florida legislature to provide coverage for homeowners who couldn’t find insurance on the private market. But today, what was designed to be a “last resort” option has ballooned into the state’s largest insur...
a stock transfer may also trigger loss of the cap and re-assessment of the property at fair market value. However, in 2010, the legislature amended the statute to create an exception for publicly-traded companies if the transfer of the shares occurs through the buying and selling of shares ...
While lawmakers in the Florida legislature have urged action to combat rising property insurance rates, they recently failed to pass bipartisan legislation "that would have addressed the roofing schemes and frivolous litigation," Friedlander said. ...
Nine insurers have been declared insolvent or merged into other companies in Florida since 2021. Average annual property insurance premiums jumped 42% last year to $6,000 in Florida, compared to a national average of $1,700. The Legislature and Florida Gov. Ron DeSantis ...