Tag: Florida insurance

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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Homeowners insurance market continues to shift as Florida’s Citizens takes more aggressive action

S.Vagus
Florida homeowners insurance, Citizens Property

Citizens Property Insurance causes shift in homeowners insurance market Florida’s Citizens Property Insurance has been facing serious financial problems that have also attracted a great deal of criticism to the state-run organization. Florida lawmakers have been pressuring the insurer to resolve many of its own issues, which has lead to a shift in the state’s homeowners insurance market as the insurer sheds policies and these policies are taken up by private homeowners insurance companies. Now, Citizens making a move to increase its hurricane coverage this year in the hopes of…

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Homeowners insurance may become more expensive in Florida

Nordstrom
Homeowners Insurance Florida

Homeowners insurance in Florida facing major changes due to new legislation Florida’s Citizens Property Insurance, a state-run organization that offers homeowners insurance coverage throughout the state, has been laboring under the weight of significant financial problems for the past few years. Last year, the state-run company was tasked by Florida lawmakers to make drastic changes to its business structure in order to overcome its financial challenges. The number of policies represented by the insurer and the premiums associated with these policies have been the major focus on this restructuring. A…

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Health insurance must be offered to Florida part-timers or the state will be fined

Florida health insurance

The Sunshine State must make a number of vital healthcare reform decisions over the next few months. Florida is facing an important string of health insurance decisions over the next few months in order to comply with the requirements of the federal healthcare reforms, including providing coverage to some of its part time state workers or face fines $300 million per year. This could require the state to make sweeping changes to this sector of its industry. The federal law would require the state to pay a stiff penalty if…

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United Insurance acquires policies from Citizens

Marc
Insurance Industry News Deal

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…

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