Live Insurance News

Auto insurance in Florida continues to be a problem

October 1, 2012 S.Vagus

Lawmakers benefits of new auto insurance laws to be seen soon Auto insurance in Florida has been in flux for some time. State lawmakers have been laboring to make changes to Florida’s auto insurance regulations in the hopes of curbing the prevalence of fraud. Legislators have made significant changes to the state’s personal injury protection (PIP) regulations, which have been hailed both as a remedy for fraud and a financial problem for consumers and businesses. Whatever the case may be, auto insurers are tasked with figuring out ways to lower…

Homeowners insurance at Citizens being moved in record numbers

September 28, 2012April 30, 2013

Approximately 60,000 more policies are being shifted to private insurers with owner consent. Citizens Property Insurance Corp in Florida has taken its next step in its aggressive effort to dump policies, having now announced that many of its homeowners insurance customers will need to decide whether or not they will remain with the state backed company. Following all of its efforts it may shed up to 300,000 policies. This drop would represent about one fifth of its total of almost 1.47 million policies. The goal is to have sloughed them…

Florida’s Citizens Property Insurance continues to shed policyholders

September 26, 2012September 26, 2012 S.Vagus

Citizens Property Insurance wants to see more policies taken over by private providers It is no secret that Florida’s Citizens Property Insurance has been strapped with serious financial problems in recent years. The state-run insurance group is often considered the last and best place to find affordable insurance coverage for Floridians who inhabit the natural disaster danger zone. Citizens Property Insurance attained this status through offering policies that were well below the average cost of those coming from private insurance groups. While this has been well received by consumers, this…

Auto insurance reform in Florida comes under fire

August 2, 2012August 1, 2012 Marc

Consumers argue that provisions are too harsh for the innocent Earlier this month, a number of auto insurance reform measures took effect in Florida. State legislators had been working to enact auto insurance reforms to combat the significant problem of fraud the state had been facing for years. The auto insurance reform law that was passed earlier in the year has made drastic changes to the auto insurance industry and has imposed significant limitations on the claims benefits consumers can receive. The law has been in effect for a whole…

Florida’s Citizens Insurance to receive assistance from private insurers

July 31, 2012July 30, 2012 S.Vagus

Private insurers come to the aid of troubled Citizens Insurance Private insurance companies in Florida may be coming to the aid of the state’s beleaguered Citizens Property Insurance Corp. The state run insurance organization has been facing financial troubles for the past several years. The insurer is considered one of the last, best places to attain affordable homeowner’s insurance coverage in the state. This is due to the fact that many private insurance companies have been limiting the policies they write within Florida due to the state’s penchant for natural…