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Michael MolineOctober 24, 2016

The number of insurance claims following Hurricane Matthew has now surpassed 91,000, with estimated losses rising to $549 million. The grand total is 91,212, according to data posted Monday morning on the Florida Office of Insurance Regulation’s website. The numbers were good as of late Friday afternoon. Volusia County led in claims, at 26,664. Next came […]

Michael MolineOctober 17, 2016

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 […]

Staff ReportsOctober 10, 2016

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 […]

Michael MolineSeptember 27, 2016

Florida’s property insurer of last resort fears lingering damage from Hurricane Hermine — in the form of third-party claims officials and business leaders blame for escalating premiums. Thus far, of 837 Hermine-related insurance claims, third-party public adjusters filed seven — and five involved assignment of benefits agreements, or AOBs, staff members told a Citizens Property […]

Michael MolineSeptember 16, 2016

State regulators approved premium increases averaging 6.4 percent on homeowner policies issued by Citizens Property Insurance Corp., Florida’s state-run insurer of last resort. The Office of Insurance Regulation pared down that increase slightly from the 6.9 percent Citizens sought during a rate hearing last month. You can read the order here. The office approved rate […]

Michael MolineSeptember 16, 2016

Florida’s insurer of last resort has paid more than $90,000 in Hurricane Hermine claims. That was the tally as of Friday afternoon, with 618 claims still being processed. “Most of the claims have been filed for the Tampa Bay area — relatively far from where the storm landed,” said Michael Peltier, spokesman for Citizens Property […]

Michael MolineSeptember 6, 2016

Florida regulators have agreed to allow private companies take over nearly 70,000 policies from Citizens Property Insurance Corp., the state-run insurer of last resort. “The Office of Insurance Regulation has determined that these companies have the experience and financial security to offer takeout policies for this number of policies,” Michael Peltier, a spokesman for Citizens, […]

Michael MolineAugust 24, 2016

A tropical storm stands an excellent chance of hitting South Florida this weekend. An insurance industry group wants Floridians to start getting ready. The Property Casualty Insurers Association of America on Wednesday recommended Floridians review their policies now, to make sure they’re covered against storm damage, or add coverage, if necessary. “Flood insurance is not covered by […]

Phil AmmannMarch 1, 2016

A Senate committee passed a bill seeking to reform assignment-of-benefits for water damage claims on property insurance rates across the state. LobbyTools reports that SB 1248, from Miami Republican Sen. Miguel Diaz de la Portilla, takes several steps to reduce abuse of AOB agreements, which allow third parties to claim the insurance benefits resulting from loss, […]

Guest AuthorFebruary 10, 2015

Florida’s property insurance system has been on a roller-coaster ride over the past 10 years. Since Hurricane Wilma struck Florida’s coast in October 2005, the Sunshine State has lived up to its moniker, having gone more than nine years and four months without a landfall. And that unprecedented streak of luck has allowed the state […]

Tag: property insurance

Hurricane Matthew insurance claims now worth nearly $550 million

Hurricane Matthew-related insurance claims pass the 75,000 barrier

Insurance claims begin to mount following Hurricane Matthew

Citizens Insurance braces for third-party Hermine claims

Citizens Insurance wins 6.4 percent increase in property premiums

Assessing Hermine: Citizens Insurance pays $90,000 in storm claims

Regulators OK shift of 70,000 policies from Citizens Insurance

Insurers warn Floridians to prepare for tropical storm

Senate committee passes assignment-of-benefits reform in water damage insurance claims

Sal Nuzzo: Florida's Vanilla Ice property insurance system