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This Florida insurance company raised rates 36 percent. Will regulators approve it? tampabay.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tampabay.com Daily Mail and Mail on Sunday newspapers.
Metro Orlando homeowners among 53,000 to be dropped by property insurance carriers orlandosentinel.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from orlandosentinel.com Daily Mail and Mail on Sunday newspapers.
Termination notices going out as hurricane season approaches State insurance regulators are allowing three companies to cancel or not renew thousands of policies, forcing those jilted customers to find new coverage weeks before hurricane season begins. SUN SENTINEL/TNS As another hurricane season bears down on the state, more than 50,000 Florida home insurance customers will soon receive notices that their policies have been canceled or wonât be renewed. State insurance regulators recently authorized âextraordinaryâ terminations of thousands of policies of Florida-based insurers Universal Insurance of North America, Gulfstream Property & Casualty, and Southern Fidelity. And the bloodletting will likely continue over the coming months with other insurers seeking to shed risky or unprofitable policies while refusing to insure older homes with roofs, electrical systems and plumbing that have not been upgraded ....
By Brian Mudd May 21, 2021 Self-Insuring In Florida. If You Can Afford To Do It, It s Likely Worth The Risk Bottom Line: Earlier this week we learned 50,000 Florida homeowners would be dropped by their current home insurance carriers upon policy renewal. The three carriers shedding some of their Florida policies are Gulfstream Property and Casualty, Southern Fidelity and Universal Insurance. The problem for those carriers comes down to carrying too much risk within their portfolio of business. Insurance carriers must be able to prove they can pay out claims and must maintain specific standards to qualify for reinsurance which is required during times of emergencies. As storm related risks have risen higher than ever, with Florida considered the riskiest state for a natural disaster in the country, combined with record high home prices. It’s a recipe for potential problems. The kinds we haven’t seen since the end of the 04-05 hurricane cycle and the subsequent ho ....
Betterview Enables Carriers to Take Proactive and Inclusive Approach to Mitigate Property Risk Share Article Machine Learning driven property intelligence tools, such as those provided by Betterview, now provides underwriters with a more intuitive and actionable risk profile than ever before. By working together with insurtech partners, I believe we can build a P&C industry that is more resilient and inclusive for all parties involved.” Dave Tobias SAN FRANCISCO (PRWEB) May 21, 2021 Over 50,000 Florida homeowner policies have been dropped by three major carriers just prior to the start of hurricane season, the South Florida Sun-Sentinel reports. The dramatic move underlines the importance of developing more proactive and inclusive insurance solutions during a time of increased risk, says David Tobias, co-founder of insurtech platform Betterview. ....