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Michael MolineSeptember 18, 2017

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

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 […]

Staff ReportsSeptember 14, 2017

Citizens Property Insurance Corp. had fielded 15,900 Irma-related storm damage claims at last count — a fraction of the more than 100,000 claims the company expects in the weeks ahead. The tally was good as of 9 a.m. Thursday, company spokesman Michael Peltier said. The Florida Office of Insurance Regulation has yet to say how […]

Michael MolineSeptember 13, 2017

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

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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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

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

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 […]

Michael MolineApril 6, 2017

Advocates of assignment of benefits reform delivered 1,500 petition signatures to House Speaker Richard Corcoran’s office Thursday, renewing their campaign against what they consider dodgy lawsuits by unscrupulous contractors and attorneys. And no — they didn’t mean to imply anything untoward about the chairman of the House Appropriations Committee. The advocates, operating under the Florida […]

Staff ReportsMarch 29, 2017

Citizens Property Insurance Corp. lost money for the first time in a decade because of water loss claims, assignment of benefits abuse, and rising litigation costs, the company said Wednesday. Staff at Florida’s insurer of last resort told its board of governors that they expect to post a $27.1 million loss for 2016. “Every year, we […]

Tag: Citizens Property Insurance Corp.
State Rep. Angie Nixon (center) leads a protest against immigration policies Saturday outside the Duval County Courthouse in Jacksonville. Image via Drew Dixon of Florida Politics.

State: Insurance losses post-Irma near $2 billion

Fred Karlinsky predicts insurers will turn to international sources for Irma payouts

Irma-related damage claims continue to trickle in to Citizens Insurance

Citizens Insurance reports 8,000 claims and rising as policyholders return home

Rick Scott blocks insurance premium hikes, cancellations during Irma recovery

Rick Scott names Tom Grady to constitutional review panel

Private insurers OK’d to take over 19,000 Citizens Insurance policies

House assignment of benefits reforms move closer to final vote

AOB reformers, bearing petitions, insist no offense intended against House chair

Citizens Insurance lost $27.1 million during 2016; first loss in a decade