Category: Florida Insurance

Court Denies Allstate’s ‘Phantom Vehicle’ Appeal, Setting Legal Precedent

Ben Jones
Allstate’s ‘Phantom Vehicle’ Appea

Overview of the Landmark Case The Florida Third District Court of Appeal recently made waves in the insurance and legal community by denying Allstate Insurance Company’s appeal in a collision case involving a so-called “phantom vehicle.” The term refers to a car that allegedly caused a crash but cannot be identified or located. At the heart of this case was a claim made by Priority Medical Centers, LLC, on behalf of an injured motorist who alleged that a phantom vehicle was to blame for the collision. Allstate, denying the existence…

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Can Everglades Environmental Restoration Help Lower Rising Insurance Premiums?

H. Cutner
Everglades Restoration

Everglades Restoration Efforts Could Safeguard Florida Keys and Boost the Economy The Everglades, a sprawling subtropical wetland at Florida’s heart, holds far more significance than its postcard-perfect fan boats and alligators might suggest. The push to restore this “River of Grass” isn’t just about keeping the sawgrass healthy; it’s about addressing high stakes for the environment, the Florida Keys, and the broader economy—including its precarious insurance market. Efforts under the Comprehensive Everglades Restoration Plan (CERP) could bring massive economic and ecological benefits. But the path forward is riddled with both…

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No More Fine Print! Inside Florida’s Push for Honest Pet Insurance

Angela Linders
Florida's Pet Insurance

Florida’s New Pet Insurance Law Seeks to Protect Pet Owners and Their Pockets Florida’s furry friends just got a boost of support, and their humans might be breathing a sigh of financial relief, too. Starting January 1, 2025, a new state law establishes a regulatory framework for pet insurance, bringing long-awaited transparency and rules to a fast-growing sector. It’s not often lawmakers agree with such enthusiasm, but this bill passed both the House and Senate without a single dissenting vote. If you’ve got a tail-wagging buddy or a purring companion,…

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Florida Property Insurance Shake-Up: What Every Homeowner Must Know in 2025

Tate Ellison
Florida Property Insurance

Florida Property Insurance – New Players, Wildfire Risks, and Legislative Shifts The property insurance market in Florida has long been a hot topic, and 2025 is no exception. With new insurers entering the state, wildfire hazard maps being updated, and ongoing legislative battles shaping the landscape, Floridians are witnessing significant developments. But what does all this mean for homeowners, insurers, and the future of property coverage in the Sunshine State? Here’s a closer look. Florida Welcomes New Insurers Amid Shifting Market Dynamics Over the past two years, Florida has seen…

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Citizens Insurance Plans $4.54B Reinsurance Boost for 2025 to Tackle Catastrophic Risks

Marc
Citizens Insurance Plans Reinsurance Boost

Citizens Property Insurance Plans for 2025 Reinsurance: What You Need to Know Florida’s Citizens Property Insurance Corporation is gearing up for a significant shift in its reinsurance structure for 2025. With plans to secure a new $2.94 billion private market risk transfer, the insurer aims to bolster its reinsurance coverage from traditional and capital markets to an ambitious total of around $4.54 billion. This coverage plan comes with a budgeted premium of approximately $650 million, a notable increase from the $482 million premium tied to the $3.564 billion coverage secured…

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Florida’s Push to Reform the No-Fault Auto Insurance System

John Bowers
No-Fault Auto Insurance System

Efforts to reshape Florida’s auto insurance laws are in full swing, with the Senate Banking and Insurance Committee preparing to review the latest proposal, SB 54. This ongoing debate could significantly impact drivers across the Sunshine State. Here’s what you need to know about Florida’s no-fault system, the proposed changes, and what they mean for you. Understanding Florida’s No-Fault Auto System Florida is one of only two states that mandates a no-fault auto insurance framework. Under this system, drivers are required to carry personal injury protection (PIP) coverage, a policy…

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Florida’s Home Insurance Crisis Deepens Amid Revelations of Financial Practices

Tate Ellison
Florida’s Home Insurance Crisis

Lawmakers Begin Scrutiny of Insurance Industry Practices Florida’s property insurance market has been a focal point of concern for years, with homeowners facing skyrocketing premiums and limited options. However, new information has surfaced, shedding light on financial practices within the insurance industry that raise serious questions about transparency. A report from March 2022, commissioned by the state’s Office of Insurance Regulation, has now become central to this discussion. Though it was completed over a year ago, it wasn’t made public at the time. It was only obtained recently through a…

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