Florida insurance regulators are facing down a new rate proposal from property insurers Castle Key Insurance Company and Castle Key Indemnity Company. Representatives of the companies appeared before regulators on Tuesday to testify on the necessity of their proposals. Florida has recently been inundated with proposals to increase insurance rates due to the fact that hurricane season is sending several tropical storms toward the state. Given toll that natural disasters have taken on the industry earlier in the year, insurers are keen to recover their losses by hiking up premiums.…
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President of Florida Association of Insurance Agents sees progress, but reform frustrations
Jeff Grady, the Florida Association of Insurance Agents president, has spoken about the successes and failures of the most recent legislative session now that has finished. Grady discussed the changes that were made within the legislative session under the new governor as well in conjunction with a House and Senate that both have a strong majority that is pro-business. The agenda was geared toward reforms in tort and property, as well as a high profile urging to revamp the no-fault auto law. That said, while there were some significant reforms…
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