Hurricane season starts today and Jeff Atwater issued insurance advice

hurricane season insurance losses storm

The Florida Department of Financial Services CFO recommends that homeowners look again at their policies. Florida Department of Financial Services CFO Jeff Atwater cautioned state residents that the hurricane season begins. He reminded them that sooner is better than later when it comes to reviewing a business or homeowners insurance policy to ensure the right coverage is there. Should a storm be identified and named, it’s too late to contact an insurer to change protection levels. “For a better chance of a complication-free claims process, Floridians should carefully review all…

Read More

Florida homeowners insurance may be stable this hurricane season

Florida hurricane insurance rates

Florida’s Cat Fund is equipped to handle a significant natural disaster Florida may be able to withstand a major hurricane thanks to the financial capabilities of the state’s Hurricane Catastrophe Fund, also known as the Cat Fund. The fund is designed to provide a financial safety net for homeowners insurance companies that face significant losses in relation to a major storm. The Cat Fund has been used many times in the past to help the state recover from serious losses, but Florida has not suffered a major hurricane in nine…

Read More

State requires fast action to strengthen the Florida Hurricane Catastrophe Fund

The 2012 Florida Legislature is rapidly approaching the end of its session, and the lawmakers there have yet to decide on a path for the reform of the Florida Hurricane Catastrophe Fund (nicknamed the “Cat Fund”), without which, the state will be left at a high degree of risk. Without arranging the Cat Fund before the end of session, all it would take is one sizeable hurricane to rip a tremendous chunk out of the state finances, as hundreds of thousands, if not millions of legitimate claims are made, but…

Read More

Esurance begins offering homeowner’s insurance policies in Florida

American homeowners insurance rates - House

Esurance, the acclaimed car insurance provider, has announced that it will be branching out into the homeowner’s insurance sector in Florida. The company is partnering with Security First Insurance, a well establish home insurer in the state. In teaming with Security First, Esurance hopes to bring a new line of affordable insurance options to the state’s homeowners. The company will also be providing discount for properties at risk of being damaged by hurricanes or wildfires. Security First will be underwriting the insurance policies, which will be tailored to cater to…

Read More