A key Florida Senate committee this week advanced a bill that would allow surplus lines carriers to take over coverage of second homes from Citizens Property Insurance Corp. Reaction by agents and brokers was mixed. The issue of having the … ...
In mid-2022, Bankers Insurance Company reported itsexit from Florida, only to be followed by AIG and Lexington Insurance, a subsidiary of AIG. Lexington Insurance is a surplus lines carrier focused onhigh-value homeswith replacement costs over$1 million— leaving an estimated 8,000 policyholders...
Its provisions are likewise allegedly expanding the role of Citizens Property Insurance Corp., Florida's residual property insurance market. Its effect, however, is that, it would allegedly require Citizens to...
Pursuant to the Florida Insurance Guaranty Association Act, we have a duty to settle claims in accordance with the Act, the policy and Florida insurance laws, in a timely manner. The Florida Insurance Guaranty Association follows the requirements of Florida insurance law in its handling of covered...
in the country and nearly twice as high as Florida’s (2.8%). …State and local taxes in California add up to $10,167 per capita versus $5,406 in Florida. …Despite its higher taxes, California boasted a $31.5 billion budget shortfall in May while Florida ran a $17.7 billion surplus...
And the other is the one way fee for surplus lines, 6269373. And the legislature abrogated that statute in Section 10. And what I think a lot of legislators and policymakers were struggling with is that there was a lot of litigation over low dollar amounts. So what the one way fee ...
Amrish SinghLeading Insurance Innovation in the AI Age (Part 3: Disaster Response) Ryan BaillargeonThe Road Ahead: Top Insurance Trends Shaping 2025See All Our Contributors Free Newsletter Sign up to receive daily news! Sign up News Surplus Lines Premium Growth Slowed to 12% in 2024 Google...