Florida-based American Capital Assurance Corp. is officially in receivership and is in the process of being liquidated after being deemed insolvent by Florida’s insurance regulator earlier this month. The Florida Department of Financial Services, which serves as the receiver for …
Florida Governor Ron DeSantis has signaled he will sign the recently-passed property insurance reform legislation that the insurance industry and consumer advocates say will stem abuse of a policy feature known as assignment of benefits (AOB). The Senate joined the …
The push for assignment of benefits (AOB) reform in the 2019 Florida legislative session is in full swing, and the insurance industry and consumer advocates have pulled out all the stops to emphasize their contention that abuse of a policyholder …
Citizens Property Insurance Corp. has approved a slate of policy language changes designed to protect consumers while addressing rising costs of non-weather water loss claims and related litigation that continue to drive premiums higher, according to a statement from the …
Florida’s number one Judicial Hellhole ranking for 2017 from the American Tort Reform Foundation (ATRF) is unlikely to be an achievement the state will celebrate any time soon. Quite the opposite, according to business groups like the Florida Chamber of …
When Topa Insurance Group President and CEO John Donahue arrived in the U.S. Virgin Islands (USVI) just a few days after Hurricane Irma hit, one of the first things he noticed aside from the utter devastation was the look in …
As Florida residents return home after being evacuated by Hurricane Irma, the pressure is on the insurance industry to keep a bad situation regarding assignment of benefits abuse in the state from getting worse. Florida regulators, carriers, industry trade groups …
Florida’s insurer of last resort, Citizens, has expanded its efforts to curb increasing water loss claims with a new Water Mitigation Estimate Review Program. Citizens Chief Claims Officer Jay Adams said the new program will provide Citizens with “certified and …
The Florida Supreme Court has delivered another blow to Florida’s workers’ compensation system with a ruling today that the state’s statutory 104-week cap on temporary disability benefits is unconstitutional. The Florida Supreme Court ruled 5-2 in favor of the of …
The new Florida drone privacy law could have some unintended consequences for insurers looking to use or insure unmanned aircraft systems (UAS) technology. The Freedom from Unwarranted Surveillance Act (FUSA), which took effect in Florida July 1, prohibits a person, …