Florida Association of Insurance Agents
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Further Florida property insurance changes expected in the wake of reform measure's passage this month
The passage of landmark property insurance reforms this month by the Florida Legislature, including an end to incentives for filing frivolous lawsuits, likely won’t be the last word on insurance reforms, industry insiders say. -
Property insurance ratings company to delay downgrades 'until further notice'
Ratings company Demotech on Monday told insurers that it would not take any downgrade action until further notice, providing at least some temporary relief from tumult in a volatile industry. -
Florida property insurance market again faces chaos with Demotech's proposed downgrades
The state's volatile insurance market was rattled again this week after rating agency Demotech signaled it would downgrade the Financial Stability Ratings (FSR) of at least 17 property insurers, potentially impacting millions of Floridian homeowners. -
Proposed property insurance reforms target Florida's litigation climate
Florida insurance officials are rallying around several pieces of legislation that state lawmakers are reviewing this week during a special session of the Legislature aimed at resuscitating the beleaguered property insurance market. -
Florida Senate passes reform plan to curb abusive litigation over property insurance claims
Additional reforms to help Florida’s beleaguered property insurance industry passed the state Senate Thursday as industry officials expressed hope that the reforms would curb questionable roof claims and rein in what they see as abusive litigation. -
Two investigative units rolled out to combat Florida property insurance fraud
Florida’s chief financial officer has announced the activation of two new property insurance investigation units in Central Florida to combat fraud in an industry that has been rocked by expensive litigated claims and plunging profits -
Florida insurers score assignment-of-benefits wins in appeals courts
Florida property insurers won a pair of recent appeals court decisions that found the companies didn’t have to pay policy benefits to third-party contractors, offering some good news for an industry that suffered $1.5 billion in losses last year. -
Contractor shortage, rural path of Hurricane Michael blamed for thousands of open claims
A severe shortage of contractors is partly to blame for the failure to close thousands of claims a year after the Hurricane Michael devastated parts of the Florida Panhandle, according to a representative of insurance agents.