Tag: disaster recovery
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Staff ReportsDecember 7, 2016
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2min348
State regulators cleared three private insurance companies to assume policies now provided by Citizens Property Insurance Corp., Florida’s state-run insurer of last resort. Effective in February, Avatar Property and Casualty Insurance Co. can take nearly 11,000 commercial and personal residential policies. Safepoint Insurance Co. was cleared to accept 15,000 policies, and Southern Oak Insurance Co. […]

Michael MolineDecember 7, 2016
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7min495
“Out of control” litigation costs are slowing efforts by Florida’s property insurer of last resort to shift risk onto private insurers, and may lead to aggressive restrictions on claims for water damage, the organization’s president said Wednesday. Rising litigation “is driving 80 percent of our attention and time,” Barry Gilway warned during a meeting of […]

Michael MolineOctober 31, 2016
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1min369
Hurricane Matthew-related insurance claims have surpassed 100,000, with losses valued at $606 million. According to information posted on the Florida Office of Insurance Regulation website Monday morning, the total claims filed as of Friday totaled 100,589. They included 85,473 residential property claims; 4,872 for commercial property; and 4,245 involving federal and private flood insurance. Claims […]

Michael MolineOctober 17, 2016
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1min292
The number of insurance claims filed following Hurricane Matthew has now surpassed 75,000, state regulators announced Monday. The estimated insurance loss was $454 million. When last counted on Friday afternoon, the Florida Office of Insurance Regulation had recorded 75,215 claims, of which 67,805 remained open. Residential property claims numbered 66,862; commercial, 1,660. The department posts […]

Michael MolineOctober 12, 2016
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5min263
Homeowners filing insurance claims following Hurricane Matthew might want to consider obtaining an independent appraisal of their storm damage. That advice Wednesday from two plaintiffs lawyers, one of whom is handling insurance claims arising from the recent floods in Louisiana, which he said provides a “snapshot” of what Florida can expect during the Matthew claims […]

Michael MolineOctober 12, 2016
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1min256
Insurance claims related to Hurricane Matthew are arriving in earnest now — more than 39,000 of them as of Wednesday. The exact number, according to the Florida Department of Insurance Regulation, was 39,302. Estimated losses stood at $218 million. Of the total claims, 650 had been closed with payments to the policyholders; another 1,027 were closed without payments. […]

Staff ReportsOctober 10, 2016
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1min285
Hurricane Matthew has generated nearly 5,000 insurance claims involving losses of $21 million, state regulators said Monday. They cautioned the results are preliminary, reflecting just three days of claims data — Friday through Sunday. “As many displaced consumers return to their communities and homes to assess damage and initiate the claims process, these numbers will increase […]


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