Tag: Florida insurance

Citizens aims to change language of homeowners insurance policies

Marc
Florida homeowners insurance, Citizens Property

Citizens Property Insurance intends to change policy language concerning water damage Florida’s Citizens Property Insurance is looking to make changes to the language in its homeowners insurance policies in order to mitigate the growth of claims associated with water damage. These claims are beginning to flow from South Florida, where many homeowners are beginning to experience water damage from various issues, ranging from rainfall to faulty plumbing. The changes that Citizens Property Insurance wants to make will adjust the way water damage claims are handled. Changes must be made in…

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Health insurance companies seek approval for merger in Florida

S.Vagus
Florida health insurance

Large insurers intend to merge, but seek approval from Florida regulators Two of the largest health insurance companies in Florida are petitioning lawmakers to approve their merger. Aetna and Humana intend to join together, creating a larger insurance organization. The merger has generate some controversy, with consumer advocacy groups suggesting that the merger would lead to higher health insurance rates and fewer options for those that need coverage. These concerns have been shared by some lawmakers, who are convinced that the merger would be in the best interests of the…

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Florida homeowners insurance expensive despite decade without a hurricane

Julie Campbell
Florida Homeowners Insurance

The season for these major storms has now come to a close but rates still aren’t dropping. The official close to the hurricane season was on Monday, but even though there hasn’t been one that has struck Florida in ten years, homeowners insurance rates remain high and many are wondering why they aren’t falling due to the improvements in natural disaster damage. Insurance companies have stated that the reason doesn’t have to do with storm frequency as much as building cost. The price of building materials has been rising very…

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Florida health insurance stats place the state as third among uninsured

H. Cutner
Florida health insurance

Despite the efforts made to spread awareness of the Affordable Care Act, many remain without coverage. Five years ago, when the Affordable Care Act was first launched, the health insurance coverage rate in Florida was among the lowest in the country, and now that half a decade has passed, Florida’s rank among the uninsured states is still in third place. That said, despite the large uninsured rate in Florida in terms of health plans, the situation has improved. Now that the health care reform is starting to settle in and…

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Florida’s Citizens aims to shed more homeowners insurance policies

S.Vagus
Homeowners Insurance in Florida

Insurer aims to become more consumer friendly by getting rid of additional policies Florida’s Citizens Property Insurance is looking to become more consumer friendly by shedding additional policies in order to become more financially sustainable. Over the past four years, Citizens, which is the last resort provider of homeowners insurance policies for consumers in the state, has shed approximately 1 million policies. These policies have been transferred to private insurers that are honoring the policies that were initially sold by Citizens. The insurer has been shedding these policies in order…

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