Almost two weeks after Hurricane Milton made landfall near Sarasota, Florida, as a Category 3 storm, claims and loss totals continue to rise. As of Oct. 21, the Florida Office of Insurance Regulation said carriers had reported more than 221,582 …
Property Insurance claims from Hurricane Milton had topped more than 152,180 by Monday, with some $1.9 billion in estimated insured losses. That’s already more than the claims and losses reported for Helene, which made landfall in Florida two weeks earlier, …
The Florida Office of Insurance Regulation in recent weeks has fined five property/casualty insurers, including Heritage Property & Casualty Insurance Co., which was hit with a $1 million penalty for failing to properly handle hundreds of claims after Hurricane Ian. …
The Florida Office of Insurance Regulation has approved policy forms filed by at least eight property insurers that limit the amount the carriers will pay to replace undamaged materials to create a matching, uniform appearance after repairs, state records show. …
Despite the Florida Legislature taking major steps to rein in the cost of roof claims and litigation, at least two insurers have come out with broad roof endorsements that seek to bar claims for wear and tear, poor workmanship and …
The Florida Legislature’s insurance rescue bill, approved last week, won’t take effect soon enough to help policyholders and insurance agents who’ve had no response from beleaguered United Property & Casualty Co. on Hurricane Ian claims. The lack of information has …
A Florida appeals court has upheld the dismissal of no fewer than 16 auto glass assignment-of-benefits lawsuits against Progressive Insurance companies, perhaps putting an exclamation point on the enforceability of appraisal clauses and policy language that bars claims litigation. The …
In 2021, Florida’s domestic property insurers spent more than $3 billion on legal defense costs and containment – double the figure reported in 2016. That’s one jaw-dropping but not surprising takeaway from the Florida Office of Insurance Regulation’s recently posted …
The Florida property insurance community was abuzz this week after word got out that a closely watched complaint about some public adjusters’ apparent conflicts of interest had been withdrawn. The head of investigations for Universal Property & Casualty Insurance, one …
The Florida Insurance Guaranty Association is urging insurers to hold off on sending homeowners’ policy renewals until state regulators decide if they will approve a surcharge on premiums to help cover more than $168 million in claims left from two …