Risk Management Solutions Inc. (RMS), Newark, Calif., launched the latest version of the RMS U.S. Hurricane Model, its first catastrophe risk model to explicitly incorporate a five-year forward-looking view of hurricane frequency. The new model is said to reflect extensive …
The Leon County Circuit Court has been petitioned by Tom Gallagher, Florida’s CFO, to order the Poe Financial Group’s subsidiaries, Southern Family, Atlantic Preferred and Florida Preferred, into liquidation. According to a statement by the Department of Financial Services, all …
The hurricane insurance package passed by the Florida Legislature just before adjournment Friday night is the most significant property insurance bill since major legislation following Hurricane Andrew in the early 1990’s. Florida Insurance Council members largely support the package, although …
Challenged with pressure to lower rates and reinvigorate the property insurance market, Florida lawmakers hammered out compromise legislation in the final minutes of the 2006 session that in the long run may help consumers and insurers, according to the Property …
The Florida House Insurance Committee and the House Fiscal Council have approved CS/CS/HB 7225, and according to the Florida Insurance Council, the next stop is the full House. FIC released a side-by-side comparison of insurance legislation now in the House …
Leon County (Florida) Circuit Court Judge Thomas Bateman has ordered Southern Family Insurance Company, one of three financially-troubled property insurers of the Tampa-based Poe Financial Group, into rehabilitation. The two other Poe companies appear to be on the brink of …
A special statewide operation targeting the arrest of nearly 80 suspects from Miami to Pensacola, Fla. for their roles in insurance fraud schemes, dubbed “operation spring cleaning,” has been launched by the Division of Insurance Fraud. “Operation spring cleaning” is …
Ewan Gilmour, Chief Executive of the U.K.’s Chaucer insurance group and Lloyd’s Deputy Chairman, issued a statement praising the market’s underwriters for delivering a series of good results, following the recent publication of most companies 2005 preliminary earnings figures. He …
More than 90 percent of all claims related to Hurricane Wilma in Florida have been closed according to Bob Ricker, Citizens Property Insurance Corp. executive director. He also reported that more than 91 percent of all hurricane claims, including thousands …
Florida officials didn’t confirm the legitimacy of some hurricane claims before it paid out more than $150 million as part of an agreement to share the cost with Washington, a state audit has found. As part of a deal in …