Officials of Pembroke Pines, Florida, are petitioning the insurance industry to lower rates on auto insurance due to the safety of the city’s streets. Pembroke Pines is the first city in Florida to seek lower rates from the industry as a whole rather than going through state-run agencies. City officials say that lower rates are well earned because of the safe driving practices of the city’s residents as well as…

Florida continues to combat auto insurance fraud despite new measures introduced to combat the problem. While the number of accidents in the state is on the decline, the occurrence of fraud continues to grow. Insurance Commissioner Kevin McCarty claims that widespread fraud has led to premiums for auto insurance to soar by $900 million since 2008. The mounting problem has lit a fire beneath Governor Rick Scott, who is now…

Florida’s Citizens Property Insurance may be heading toward privatization. The state-run program is considered the last resort for affordable insurance coverage in the state, offering policies that other insurers shy away from at lower rates. Jim Malone, CEO of the state sponsored company, has been considering the idea for some time and has recently proposed the idea to legislators. If the program is to become privatized, the effort would take…

As insurers all over the country continue to receive criticism from policyholders, and even then federal government, many of them continue to seek rate increases. Fidelity National Property and Casualty Insurance of Jacksonville, Florida, is proposing a rate hike of 27%. The proposal is a move to recoup the monetary losses of last year, according to vice president John Giorgianni. State regulators are currently reviewing the proposal and it may…