Live Insurance News

Homeowners insurance reforms needed in Florida, says Governor

December 4, 2012April 30, 2013

Gov. Scott and a panel of lawmakers have called for changes that will provide greater awareness. Governor Rick Scott, along with a number of lawmakers in Florida, have announced that they will be seeking to provide residents of the state with better education regarding the hidden costs linked with homeowners insurance and the “house of cards” that will collapse in the wake of a major storm. The governor spoke at a summit at Disney for the Florida Chamber of Commerce. He explained that solid efforts are required to make certain…

Insurance news scandal and media fire response from Citizens

November 29, 2012November 29, 2012 Julie Campbell

Florida Insurance News - Citizens insurance

The Florida homeowners insurer of last resort says that the dramatic reports are misleading. The homeowners insurer of last resort in Florida is now responding to the latest insurance news that includes heavy media fire regarding the scandal that surrounds the closure of the company’s watchdog department. Citizens says that much of the media coverage is highly misleading and is quite inaccurate. The CEO of the state backed insurer gave his own insurance news statement. Barry Gilway did agree that there have been a small group of supervisors within the…

Homeowners insurance discounts wrongly denied

November 28, 2012April 30, 2013

An administrative judge has ruled that the discount forms used by the state’s property insurers are flawed. In a ruling that could potentially rock the entire homeowners insurance industry in Florida, an administrative judge has deemed the forms used by property insurers throughout the state for the calculation of premiums discounts to be highly flawed and that they must be completely rewritten. The decision from the judge could lead to massive implications for policyholders in the state. Many residents of Florida have made special efforts to hurricane proof their homes…

New title insurance policy approved by Florida regulators

November 22, 2012December 1, 2012 Nordstrom

Title insurance continues to be difficult subject in Florida Title insurance in Florida has long been a tricky business. The state is considered a high risk market due to its exposure to hurricanes and tropical storms coming through the Gulf of Mexico. As such, the title insurance maerket in Florida can be difficult to navigate for some consumers more than in other states. This often creates problems for consumers, but there may be some relief in sight as the Florida Office of Insurance Regulations approves new measures to ensure the accessibility of affordable insurance…

Homeowners insurance of last resort shuts down internal watchdog

October 24, 2012October 24, 2012 Julie Campbell

Citizens in Florida is now under fire against significant opposition to the move. Citizens Property has already been facing fierce opposition from critics over the recent changes that it has been making to its homeowners insurance coverage in order to decrease its number of policyholders, and this disapproval was heightened this week when it announced that it has axed its own internal watchdog group. This occurred at the same time that the insurer is already under investigation for high corporate spending. On Monday, Dan Krassner, the executive director of Integrity…