Tag: property insurance bill

Homeowners insurance bill in Florida is moving up

H. Cutner
homeowners insurance bill

The North Carolina proposal is only one of a large number facing the General Assembly. A bill regarding homeowners insurance is one of a large number being considered by the General Assembly in North Carolina, following a slew of others last week, including outdoor smoking bans, clean water issues, and autistic child coverage. This is because the General Assembly was trying to fit everything in before today’s non-revenue bill deadline. The bills – including the one for homeowners insurance – were required to pass their originating chamber by this date…

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Citizens Property Insurance of Florida proposes rate increases averaging 428% for sinkhole policies

S.Vagus

Sinkholes have been quite troublesome in Florida recently. Earlier in the year, the state was inundated with insurance claims regarding damages caused by sinkholes. The majority of these claims, however, were fraudulent, as regulators discovered little to no evidence of sinkholes when investigating properties claiming to have suffered damage. The overwhelming number of falsified claims coming from property owners has caused many insurers to limit the extent of their coverage or otherwise raise the premiums associated with sinkhole insurance. Citizens Property Insurance, the state-funded insurance program, too will be raising…

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