The governing board of Citizens Insurance has decided to postpone an insurance rate increase for new businesses.  Citizens had been under pressure from Florida’s Chief Financial Officer and state Senator Mike Fasano to postpone an increase in rates for new businesses.  “The removal of the cap for new business...

Yesterday, I blogged about an article in the Insurance Journal warning that the homeowners’ association where George Zimmerman lived may be the target of a civil lawsuit because it had publicly recognized Zimmerman as a captain of the local neighborhood watch volunteer group.  Further complicating matters, it published this...

The Insurance Journal is speculating that the homeowner’s association of the neighborhood in which George Zimmerman lives may be the target of a civil lawsuit in the much-publicized Trayvon Martin fatal shooting.  According to the Journal article, here’s why that may happen: “Exhibit A would be a newsletter sent...

This week has been designated as National Flood Safety Awareness Week.   According to Wakulla News, “During this week, the National Flood Insurance Program (NFIP) and the National Oceanic and Atmospheric Association (NOAA), are partnering to raise awareness regarding the many ways floods can occur, the hazards associated with floods,...

A bill that would have allowed out-of-state insurance companies to take homeowners insurance policies out of the state-run Citizens’ Insurance has died in the Florida House.  According to multiple news reports, House members couldn’t agree on proposed amendments and essentially ran out of time and patience in dealing with...

As the 2012 Florida legislative session heads into its final week of regular session, two major insurance issues remain unresolved.  Both insurance issues remain contentious and no clear resolution is in sight.  One involves personal injury protection or PIP insurance while the other concerns property insurance coverage issues related...

 A Florida Senate bill that would allow out-of-state property insurance carriers (surplus lines carriers) to take over policies now handled by state-funded Citizens’ Insurance has suffered a setback in the Senate chamber.  According to the Florida Current, “Sen. Mike Fasano, R-New Port Richey, and other senators are prepared to...

Currently, Citizens Insurance employs a three-tier assessment model consisting of a personal lines account, a commercial lines account, and a coastal account.  Under present law, insurers must pay an up-front assessment and recoup them from the policyholders.  However, the Florida Legislature is considering a proposal that would significantly change...

According to local media reports, it appears unlikely the Florida Legislature will tackle the thorny issue of windstorm insurance this session.  Some blame lawmakers’ unwillingness to confront a politically difficult problem during an election year while others believe that Florida residents can’t afford an increase in their property insurance...

A few days ago, the Wall St. Journal published an article concerning the brewing storm over Florida’s expanding state run insurance entities that are supposed to be a last resort in providing Florida homeowners with insurance coverage.  WSJ cites as an example of this expansion the state of Citizens...