Live Insurance News

Homeowners insurance surcharges may be reduced in Florida

October 20, 2014October 19, 2014 S.Vagus

Florida Hurricane Catastrophe Fund remains financially strong, which may be a benefit for homeowners New estimates approved for the Florida Hurricane Catastrophe Fund show that it remains strong. The fund was established to help private insurance companies to help pay claims that they receive in the wake of a hurricane. The fund has been put to the test over the years and some have questioned its financially capabilities. Private insurers face significant risks in the Florida market due to the state’s exposure to natural disasters, but the fund remains financially…

Organization seeks to boost enrollment in Florida’s health insurance exchange

October 14, 2014October 11, 2014 S.Vagus

Health Council of South Florida plans to launch a new campaign in November Health care activists in Florida are beginning to launch a new campaign to encourage the state’s residents to purchase health insurance coverage. The Health Council of South Florida learned valuable lessons during the state’s first enrollment period and the organization plans to launch a sign-up campaign when the state’s exchange begins open enrollment again in November. The organization will be focusing more heavily on connecting with consumers in a more dynamic fashion, using new technology and information…

Homeowners insurance rates could go up in Florida because of lawsuits

October 10, 2014October 9, 2014 Nordstrom

Citizens Property Insurance may be open to “bad faith” lawsuits in the future Rates for homeowners insurance policies through Florida’s Citizens Property Insurance could be on the rise once again. The Florida Supreme Court is weighing a decision on whether or not the state-funded insurance company is liable for “bad faith” lawsuits. The 1st District Court of Appeals believes that the insurer should be open to such lawsuits, but Citizens argues that it should be exempt due to the way the company was formed. Citizens Property Insurance was created by…

Homeowners insurance “storm tax” to be put to rest in Florida

September 29, 2014September 27, 2014 Logan B.

Citizens Property Insurance announces it will end its emergency assessment on insurance policies two years ahead of schedule Florida’s Citizens Property Insurance has announced that it will, in fact, be putting an end to emergency assessment it has levied on insurance policies. The assessment, which is often referred to as the “storm tax,” is being put to rest two years ahead of its scheduled expiration. For some homeowners, this may come as a financial relief, but insurance costs are expected to only fall by an average of $40 over the…

Homeowners insurance tax could come to an end in Florida

September 24, 2014September 22, 2014 Nordstrom

Citizens Property Insurance is considering putting an end to its storm tax Florida’s Citizens Property Insurance is considering putting an end to its storm tax, which was first introduced in 2007 as a way for the organization to recover from devastating financial losses. The tax imposed a 1% charge on all homeowners insurance policies that the organization was responsible for. The charge has been somewhat unpopular among homeowners, especially as Citizens continued to raise premiums on their coverage somewhat aggressively. Now, the organization may put an end to the tax…