Tag: Citizens Property Insurance Corp.

Michael MolineSeptember 27, 2017
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3min269
Citizens Property Insurance Corp. faces $1.2 billion in losses following Hurricane Irma, Board of Governors chair Christopher Gardner reported Wednesday. “Please recognize that this is an early estimate, and this number will probably change,” Gardner told board members during a telephone conference call. The Florida Office of Insurance Regulation, meanwhile, reported 577,918 claims against all insurers […]

Michael MolineSeptember 19, 2017
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2min183
Insurance claims from Hurricane Irma now have surpassed $2 billion, the Office of Insurance Regulation announced Tuesday. As of 4 p.m. Monday, 372,281 claims represented $2,168,674,31 in dollar losses. A little more than 6 percent of those claims have been closed already. Insurers rejected another 8,300. You can drill down into the data here. The […]

Michael MolineSeptember 18, 2017
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2min213
State regulators have received notice of more than 335,000 insurance claims since Hurricane Irma hit Florida, mostly concentrated in Central and South Florida, with losses nearing $2 billion. The bottom line as of 4 p.m. Sunday was 335,347 claims, according to the Office of Insurance Regulation. Total estimated insurance losses were $1,954,947,889. The data were […]

Michael MolineSeptember 15, 2017
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8min233
You probably don’t have to worry about your insurance company’s ability to pay claims arising from Hurricane Irma. Do worry about a shortage of adjusters to help them calculate your losses. That could inflate the cost of managing claims. Fred Karlinsky, co-chairman of the insurance regulatory and transactions practice at Greenberg Traurig, said Florida insurers […]

Michael MolineSeptember 13, 2017
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3min222
Some 8,000 Irma-related insurance claims have landed with Citizens Property Insurance Corp. — and counting. That was the number as of 9 a.m. Wednesday, company spokesman Michael Peltier said. Florida’s Office of Insurance Regulation was tallying claims filed but had not yet posted the numbers on its website. Citizens, established by the Legislature as the […]

Michael MolineSeptember 13, 2017
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3min154
Gov. Rick Scott has ordered a three-month freeze on insurance rate increases for homeowners struggling to recover from Hurricane Irma — plus a three-month grace period for policyholders who received non-renewal or cancellation notices just before the storm hit. “Due to the devastating effects of Hurricane Irma, Floridians should be focused on getting back to […]

Jim RosicaJuly 13, 2017
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4min720
Former state Rep. Tom Grady will take Jimmy Patronis‘ place on the Constitution Revision Commission (CRC), Gov. Rick Scott announced Thursday evening. In picking Grady, a Naples attorney and a friend of Scott’s, the governor passed over the three alternates he previously selected to fill an empty seat on the commission, which will review the state’s governing document […]

Staff ReportsJune 2, 2017
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2min171
State regulators have approved two private insurers to assume more than 19,000 policies from Citizens Property Insurance Corp. during August. National Specialty Insurance Co., based in Fort Worth, Texas, will take over as many as 4,520 personal coastal residential policies. Southern Oak Insurance Co., of Jacksonville, will assume as many as 5,000 personal lines and […]

Michael MolineApril 25, 2017
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3min401
The House cleared its version of assignment of benefits reform for a final vote Tuesday, defeating an amendment that would have frozen property insurance rates and required a premiums rollback next summer. PCS/HB 1421 would tighten requirements for contractors to report claims to insurance companies and establish a graduated scale for determining whether contractors holding […]


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