Live Insurance News

United Insurance acquires policies from Citizens

January 12, 2013January 12, 2013 Marc

Florida’s Citizens bequeaths policies to United Insurance Florida’s Citizens Properly Insurance has been working to depopulate itself of the vast majority of its policies in recent months. The insurer, which is run by the state, is being pressured by lawmakers to address many of the issues that have pushed it to the verge of financial disaster. This pressure has led Citizens to take measures to shed policies, such as raising rates on coverage. This week, United Insurance has announced that it has assumed a significant number of these policies. United…

Florida workers’ compensation insurance market in strong shape

January 5, 2013January 5, 2013 S.Vagus

Workers’ compensation insurance is strong in Florida A new report has been released by the Florida Office of Insurance Regulation concerning the state’s workers’ compensation insurance market. The report, which is issued annually, documents the trends that are being seen in the workers’ compensation insurance market and how these trends are affecting the market as a whole. According to the report, the workers’ compensation insurance market remains strong despite recent legislative changes and other factors that have impacted the market over the past year. Report highlights declining rates, and the…

Homeowners insurance in Florida set to increase despite lack of major storms

January 4, 2013April 30, 2013

Despite the lack of natural disasters, it is still becoming more expensive to keep property coverage. Even though there was a striking lack in major catastrophes due to storms such as hurricanes, in 2012, the premiums associated with homeowners insurance policies in Florida are continuing to rise. The prices for some customers are increasing by a considerable amount across the sector. This trend is lead by the state backed homeowners insurance company of last resort, Citizens. This company has already had its premiums increase proposals approved, and other companies have…

Insurance news features highlight on water damage scams in 2012

December 24, 2012April 30, 2013

Insurers are cautioning consumers to take care in the way they deal with their cases. Due to recent insurance news that has included a massive increase in the number of water damage scams throughout this year, insurers are now warning their customers to take care to contact their homeowners or business insurers immediately to make sure that all procedures are followed correctly and they can obtain the proper assistance. In some states, such as Florida, approximately half of all claims have to do with water damage. The problem is that…

Force placed insurance company may slash rates by 19 percent

December 21, 2012April 30, 2013

Florida may see a considerable reduction from QBE following state regulator criticism. The biggest force placed insurance company in Florida, QBE, has responded to the criticisms that it has received from regulators by making an offer to decrease its rates by 19 percent. This could make a significant difference in the coverage and real estate marketplaces of the state. Force placed insurance is purchased by lenders – typically mortgage lenders – on behalf of homeowners who have failed to purchase their own coverage or who have let their policies expire.…