Citizens wants to address the rising cost of homeowners insurance coverage

Florida homeowners insurance, Citizens Property

Citizens may petition governor to investigate rising homeowners coverage premiums A member of Florida’s Citizens Property Insurance’s governing board has suggested that the state-run insurer should ask Governor Rick Scott to convene a special panel to address concerns regarding rising water damage costs. The panel would also highlight litigation that may be leading to higher homeowners insurance premiums in South Florida. Citizens Property Insurance is concerned that such litigation is eroding the financial standing of insurance companies throughout the state. Insurers are facing major financial risks due to rising costs…

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Citizens aims to change language of homeowners insurance policies

Florida homeowners insurance, Citizens Property

Citizens Property Insurance intends to change policy language concerning water damage Florida’s Citizens Property Insurance is looking to make changes to the language in its homeowners insurance policies in order to mitigate the growth of claims associated with water damage. These claims are beginning to flow from South Florida, where many homeowners are beginning to experience water damage from various issues, ranging from rainfall to faulty plumbing. The changes that Citizens Property Insurance wants to make will adjust the way water damage claims are handled. Changes must be made in…

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Homeowners insurance organization makes progress in Florida

Florida homeowners insurance, Citizens Property

Citizens Property Insurance finds financial success Florida’s Citizens Property Insurance has been struggling beneath a shroud of controversy for the past year. The state-run insurer has been cutting policies in an effort to depopulate itself and reduce financial strain while also raising rates on insurance policies that it has maintained. This has generate a great deal of criticism that has been issued against the state-run organization as well as lawmakers, but it has also placed Citizens Property Insurance in the “best financial shape” it has ever been in, according to…

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Insurance News Broadcast

  Welcome to our Live Insurance News Broadcast! Join us every week as we annouce news Fresh Of The Press! Catch this week in the industry…   Check out a summary of today’s headline articles as well as a link directly to the source! Health insurance exchange approved in Minnesota Early this week, Minnesota lawmakers passed a legislation that calls for the creation of a health insurance exchange that is managed by the state. Opponents of the state-run health insurance exchange argue that it will simply be too expensive for…

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Homeowners insurance group under fire from Florida legislators

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Citizens Property Insurance scandalized in the realm of homeowners insurance Florida’s Citizens Property Insurance has been the target of scandals over the past several months. The state-run organization, through which the majority of Florida residents receive their homeowners insurance coverage, has been wrangling with financial problems for years and has recently begun shedding policies, which are being taken up by private insurance companies. Amidst a flurry of criticism, Citizens Property Insurance President Barry Gilway appeared before Florida lawmakers this week to defend the state-run insurer. State-run insurer continues to struggle…

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