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Gov. Ron DeSantis has said he will sign a new law that aims to address skyrocketing homeowners insurance rates by reducing litigation, but part of the deal also allows Florida’s insurer of last resort to raise rates year over year at a higher pace than in the past. ....
Jeff Vasilinda becomes the Vasilinda Family’s first published author! June 10th, 2021 by Jake Stofan The Governor has said he will put pen to paper on a new law that aims to address skyrocketing homeowners insurance rates by reducing litigation, but part of the deal also allows Florida’s insurer of last resort to raise rates year over year at a higher pace than in the past. Citizens Insurance offers coverage to Floridians who can’t find or afford private coverage. Roughly 5,000 Floridians are flocking to Citizens each week. “That type of growth is unsustainable,” said Michael Peltier, a spokesperson for Citizens. ....
Property insurance companies drop 50,000 Florida policy holders ahead of hurricane season Insurers facing ‘significant challenges’ due to increased litigation, devastating hurricanes in recent years Tags: Property insurers dropping 50,000 policyholders as hurricane season approaches ORLANDO, Fla. – With hurricane season weeks away, three property insurance companies are dropping more than 50,000 homeowner policies in Florida and some of the policy holders have yet to be notified. It’s the latest twist in Florida’s on-going property insurance problem. Angela Holland said she got a notice in the mail saying her insurer was not renewing her policy. “I haven’t filed a claim on insurance in 25 years,” she said. “When I got the letter, I had just came home from COVID, being in the hospital, and I had to deal with trying to find insurance.” ....
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 ....
Three Florida property insurers will drop a total of 50,000 policies 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.