Despite the fact that the Florida legislation finally passed a couple of bills to deal with the ever-increasing cost of homeowners insurance, it seems unlikely that premiums will start to fall anytime soon according to a report put out by Karen Clark & Company (KCC), a risk modelling firm. The recent report, titled “Managing Expectations: […]
The Florida homeowners insurance market has been in trouble for years now and the recent hurricane season that resulted in Hurricane Ian hitting the west coast of Florida and Hurricane Nicole hitting the east coast weeks later certainly hasn’t helped. Insurers that have been struggling for years had a hard time covering all the claims that came out […]
In Florida, a former state senator has been petitioning lawmakers to address Florida’s distressed property insurance market and is now advocating for reforms ahead of another special session that has been called to address the issue later this month. “It’s the most urgent pocketbook problem facing Florida today,” said former Republican state Sen. Jeff Brandes […]
Recently, three property insurance bills that were designed to stabilize the Florida insurance market and temper skyrocketing homeowner insurance premiums failed to pass the Florida legislature. This was a disappointment to both homeowners and insurers as property insurance premiums continue to head up, in fact, premiums shot up almost 25 percent in the last year. […]
There are currently three bills that are working their way through the Florida Legislature which are designed to deal with the cost of homeowner roofing claims, attorney’s fees as well as problems with insurance carriers being notified regarding lawsuits. The goal of this legislation is to help lower Florida homeowners insurance cost which has become […]
According to a new report by the McKinsey Global Institute, real estate values in Florida will continue to drop due to climate change and rising sea levels. The report found that real estate values have already dropped by an estimated $5 billion dollars and that number could climb to $80 billion over the next 30 […]
Harried homeowners in Florida can rejoice in the news that some of the consumer groups in the state have risen up in arms against the menace of force-placed insurance overcharges. The Consumer Federation of America and the Center for Economic Justice intend to appeal to the Florida Insurance Commissioner to investigate the growing menace of […]