October 22, 2021
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Property insurance

Florida lawmakers consider sweeping property insurance reforms

by on March 29, 2021 0

The Florida Office of Insurance Regulations (OIR) has suggested that Florida’s national property insurers would likely double their losses from 2019 to 2020. Here, residents examine debris after Hurricane Michael hit Mexico Beach, Fla. 2018. (Photo: Zack Wittman / Bloomberg) Florida Senate Bill 76, introduced by Senator Jim Boyd (R-Bradenton), was recently adopted by...

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Florida property insurance market is closing

by on March 19, 2021 0

Florida’s insurer of last resort, Citizens Property Insurance Corp., has emerged as the insurer of first resort as thousands of new policies pour in every week and the private home insurance market continues to spiral downward. “The reality is that the market in Florida is closing,” Citizens President and CEO Barry Gilway said in...

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Better rental insurance in 2021 • Benzinga

by on March 8, 2021 0

We narrowed the field down to 4 companies that ranked among the best tenant insurance. We’ll go over what each policy covers, the premium you expect to pay, and whether you can add additional coverage to your policy. Cheapest tenant insurance: Explanation of tenant insurance coverage Most tenant insurance policies include 3 types of...

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Rising business property insurance rates

by on February 25, 2021 0

A silver lining in the E&S market is that outside money is starting to see the sector’s profit-producing potential, which should translate into more capacity coming from insurance-related securities, RPS reported. (Credit: John Disney / ALM) For the first half of 2021, commercial property insurance rates are expected to drop from 10% to 15%,...

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Relief for business disruption due to COVID-19?

by on February 19, 2021 0

Can Business Interruption Insurance Help Businesses Affected by the Pandemic? Companies have looked for different ways to stay afloat. Some have sought the help available from the federal government, such as through the Payroll Protection Program. Government relief has generally been designed to help cover salaries and other business expenses. Businesses have been forced...

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Florida Consumers “Astonished” by Hikes in Property Insurance Rates

by on February 12, 2021 0

Florida real estate insurers are raising double-digit percentage rates, attributing the increases to lingering damage from past hurricanes, a wave of litigation and a law that encourages attorneys to sue by allowing courts to award them costs important. Rate increases in Florida, the third-largest property insurance market among US states, are the highest in...

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Legislation proposed to ‘stabilize’ property insurance would reduce roof coverage for more than 10 years

by on February 5, 2021 0

Instead of getting “replacement cost” coverage, insurers could offer “true cost” policies for older roofs. by: Shannon Behnken Posted: February 5, 2021 / 6:40 PM EST / Update: February 9, 2021 / 9:18 AM EST TAMPA, Fla. (WFLA) – Homeowners in Florida are starting to see results as insurance companies take drastic action to...

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6 AI predictions for property insurance

by on January 7, 2021 0

Insurers are no strangers to large-scale technological change, but 2020 has been unique in the magnitude of the change. Incumbents spent much of 2020 moving complex IT infrastructures to the cloud and implementing new remote risk assessment technologies, in order to continue to serve their customers safely and efficiently. . While individual property and...

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California protects millions of homeowners in fire zones from home insurance denials

by on November 5, 2020 0

In the wake of the worst fire season in California history and a dramatic increase in denials of residential property insurance in fire-risk areas, the state insurance commissioner extended Thursday a moratorium on non-renewals and refusals which he says will affect more than 2 million policies. incumbents, many in the Bay Area. The areas...

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