Author: H. Cutner

Helene & Milton vs. FEMA’s Wallet – How Two Hurricanes Changed the Flood Insurance Game

H. Cutner
Flood Insurance - Hurricane Helene and Milton

FEMA Borrows $2 Billion to Cover Flood Claims After Hurricanes Helene and Milton According to an article in the Florida Weekly, the Federal Emergency Management Agency (FEMA) is borrowing $2 billion to cover National Flood Insurance Program (NFIP) claims after back-to-back devastation from Hurricanes Helene and Milton in Florida’s Gulf Coast last year. The sheer scale of damage and the tens of thousands of claims made have underscored the challenges of funding flood insurance in a time of increasingly severe weather. Storms Bring Catastrophic Flooding and Widespread Damage Hurricane Helene…

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Miami Lawmaker Takes Aim at Condo Insurance for Noncompliant Buildings

H. Cutner
Miami Condo Insurance

Noncompliance with Building Safety Laws Draws Scrutiny A Miami lawmaker is spearheading efforts to hold condominium associations accountable for adhering to Florida’s newly implemented building safety regulations. These laws, adopted in the aftermath of the tragic Surfside condo collapse in 2021, are designed to ensure the safety and sustainability of residential buildings, particularly those three stories and higher. Under state law, condominium associations were required to complete a building inspection and conduct a funding study for future repairs by December 31, 2022. However, of the 11,270 associations mandated to comply,…

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Legislative Reforms and New Programs Drive Florida’s Insurance Rate Reductions

H. Cutner
Florida Insurance Rate Reductions

Florida Insurance Market Relief Gains Momentum Floridians may experience meaningful financial relief as recent insurance rate reductions are announced for both homeowners and drivers. While the newly proposed budget for fiscal year 2025-26 includes additional measures to lower costs moving forward, the current savings are largely the result of older legislative reforms that are only now beginning to yield results. Impact of Older Legislative Reforms Recent decreases in insurance rates can be traced back to a series of reforms passed across previous years aimed at addressing deep-seated issues in Florida’s…

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Florida’s Property Insurance Shake-Up: What Homeowners Need to Know

H. Cutner
Florida's Property Insurance

State-Backed Citizens Insurance Plans to Raise Rates Residents across Florida are bracing for another surge in property insurance costs as Citizens Property Insurance, the state’s insurer of last resort, inches closer to finalizing a 14% rate increase for 2025. This proposal, already approved by Citizens’ board, seeks to align rates with the private market while continuing efforts to reduce the insurer’s policyholder count. But as Floridians juggle rising premiums and limited options, the bigger question remains—what’s the way forward? Why Are Florida Insurance Rates Rising? Florida’s property insurance market faces…

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How Fake Accidents Could Be Driving Up Your Uber Ride Cost

H. Cutner
Uber ride

Allegations of Staged Accidents and Unnecessary Surgeries Uber Technologies has taken a bold legal step, filing a racketeering lawsuit against a network of law firms, doctors, and pain management clinics. According to a recent article in Bloomberg, the company accuses these groups of orchestrating staged car accidents and conducting medically unnecessary surgeries to exploit New York’s no-fault insurance policies. Claims of Fraudulent Accidents and Unnecessary Medical Procedures Uber Technologies has initiated a significant legal case, suing a network of law firms, doctors, and clinics for allegedly orchestrating fake car accidents…

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The $11,000 Trip Trend: How Gen Z Is Spending More to See the World

H. Cutner
Travel habits of a Gen Z

Gen Z’s Growing Travel Influence Travel habits are evolving at a lightning pace, thanks in large part to the emergence of Gen Z as a powerhouse within the travel landscape. Berkshire Hathaway Travel Protection’s 2025 State of Travel Insurance Report sheds light on this trend, revealing that Gen Z is not only traveling more but also spending more on travel than any other group. Beyond just their wanderlust, this generation is also reshaping the travel insurance market, as they increasingly see value in protecting their travel investments. The Rise of…

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Unpacking Citizens Insurance Rate Increase Delays

H. Cutner
Citizens Insurance

Florida Citizens Property Insurance Rate Hikes Remain Unresolved Amid Policy Shifts Florida’s largest government-backed insurer, Citizens Property Insurance Corporation, is dealing with unfinalized rate hikes for 2025. Initially proposed by the Board of Governors in June 2024, the increases include an average 13.5% rate hike for homeowners’ multi-peril coverage and 14.2% for condominium policies. However, with no formal decision from the Office of Insurance Regulation (OIR) as of January, these adjustments may not take effect until at least May 2025. The delay leaves policyholders in uncertainty. Citizens’ President and CEO,…

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