Citizens may petition governor to investigate rising homeowners coverage premiums A member of Florida’s Citizens Property Insurance’s governing board has suggested that the state-run insurer should ask Governor Rick Scott to convene a special panel to address concerns regarding rising water damage costs. The panel would also highlight litigation that may be leading to higher homeowners insurance premiums in South Florida. Citizens Property Insurance is concerned that such litigation is eroding the financial standing of insurance companies throughout the state. Insurers are facing major financial risks due to rising costs…
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Organization seeks to boost enrollment in Florida’s health insurance exchange
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…
Read MoreState Farm Florida drops rates for homeowners
State Farm Florida announces rate decreases for South Florida homes A lot of insurance news concerning Florida revolves around the rate increases that consumers could be facing in the near future. This week, however, looks to be a time for some good insurance news. State Farm Florida has announced that consumers in heavily populated areas in South Florida can expect to see their insurance rates decrease. The insurer has been granted approval for a rate decrease by state regulators and new rates are expected to take effect within the coming…
Read MoreHomeowners insurance customers face risks in switching from Citizens
Consumers in South Florida are offered policies from private insurers, without the rates. Thousands of residents of South Florida that have their homeowners insurance coverage through Citizens have received a letter stating that unless they opt out, their policies would be taken over in November by a private insurer. Though these customers do see potential in the switch, the situation is making it difficult to make an informed decision. Those with Citizens Insurance – the state backed insurer of last resort in Florida – have heard that the company intends…
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