Insurance News Broadcast

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  Welcome to our Live Insurance News Broadcast! Join us every week as we annouce news Fresh Of The Press! Catch this week in the industry…   Check out a summary of today’s headline articles as well as a link directly to the source! Health insurance exchange approved in Minnesota Early this week, Minnesota lawmakers passed a legislation that calls for the creation of a health insurance exchange that is managed by the state. Opponents of the state-run health insurance exchange argue that it will simply be too expensive for…

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Health insurance rate review in Florida may soon be suspended

Florida Health Insurance Rates

Proposal aims to address concerns regarding health insurance rate review Worries are high throughout the U.S. concerning the possibility of rising health insurance rates due to the Affordable Care Act. Throughout the country, several large insurance companies have warned that rates will grow exponentially next year, as the federal health care law becomes fully implemented. In Florida, these ominous warnings are being taken to heart, and lawmakers are now looking to the federal government for more direction concerning how to mitigate the potential rise in health insurance rates. Lawmakers back…

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Insurance News: Urges Congress to Oppose Yet Another Beach House Bailout

Florida Insurance News - Citizens insurance

Flood Insurance News… PRESS RELEASE: (Washington, DC) — today said they oppose reintroduction of legislation by Rep. Albio Sires (D-NJ) that would create a national catastrophe fund because it would put taxpayers on the hook for billions of dollars in losses, encourage risky development in environmentally sensitive areas, and do nothing to protect people and property in harm’s way. “A federal backstop for disaster insurance replaces private-sector insurance with the American taxpayer,” said “It is a ‘Beach House Bailout’ that would displace private property and casualty insurance with…

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Homeowners insurance in Florida becomes more complicated due to spate of sinkholes

Florida Sinkhole Homeowners Insurance

Sinkholes causing problems for Florida’s homeowners insurance sector Early this week, a large sinkhole opened up in a neighborhood in the Tampa area of Florida. The sinkhole claimed the life of one man and destroyed that man’s house, as well as causing some damage to neighboring properties. Two days after this incident, another sinkhole opened up in the same area. These sinkholes have caused something of a panic for homeowners in Florida, many of whom do not have adequate coverage to cover the damage caused by sinkholes. Most homeowners insurance…

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Homeowners insurance gets the attention of new lawmakers in Florida

homeowners insurance news florida

Florida lawmakers aim to take action on homeowners insurance Lawmakers from Southern Florida are looking to make get their hands on a larger share of the state budget as well as put a stringent cap on homeowners insurance rates throughout the state. The state’s upcoming legislative session will prove to be very important for homeowners insurance in Florida, as lawmakers continue to work toward solutions concerning the problems with the state’s Citizens Property Insurance as well as fraud. The lawmakers from Southern Florida claim that they are working to address…

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Homeowners insurance could rise due to hurricane fund bill

Florida Homeowners Insurance

A proposal to decrease the size of the fund could make it more expensive for Florida property owners. A new bill in the state of Florida could have homeowners insurance customers in the state paying more for their coverage as it aims to make the hurricane fund smaller than it currently is. The bill is geared toward shrinking the size of the Florida Hurricane Catastrophe Fund. Florida’s catastrophe fund has been an important source of cash for making claims payments in the state following severe disasters. Should this bill pass,…

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Homeowners insurance housecleaning under way at Citizens in Florida

homeowners insurance policy multiple claims

The CEO of the company needs to cut back on the insurer’s spending even further. The CEO of the Citizens homeowners insurance company in Florida implemented some strict travel expense policies in place in order to help cut spending, but is having trouble adhering to those regulations. Barry Gilway has been submitting expenses that are far above the regulations he put into place. It has now been revealed that Gilway, the chief executive officer of the homeowners insurance company, has stayed in a hotel that costs almost twice as much…

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