Major Home Insurer Pulls Out of FL United Property and Casualty Insurance Co. - one of the top 10 homeowners insurers in Florida, with over 180,000 policyholders - has stopped writing new policies in the state this year, joining the other home and property insurers...
FHLB Pushing for Parity with Banks on Insurer Collateral: Officials from the Federal Home Loan Bank have been urging state lawmakers to approve measures putting Home Loan Banks on equal footing with banks when it comes to collateral pledged by insurance companies...
FL High Court Decision Could Discourage Punitive Damage Claims: The Florida Supreme Court has approved an appellate procedure rule change that, beginning April 1, will allow interlocutory appeals on whether lawsuits can include punitive damage claims. Currently...
FL Legislature Approves Big Auto, Property Insurance Changes: On the final day of their regular 2021 session last month, Florida lawmakers passed two bills that would bring significant changes to the state’s auto and property insurance industries. SB...
FL Insurers Dropping Over 50,000 Polices to Remain Afloat: The Florida Office of Insurance Regulation has issued consent orders allowing three insurers to drop thousands of personal residential policies to try to remain solvent. Universal Insurance Co. of North...
Majority of Insurers No Longer Waiving Copays for COVID-19 Hospitalization: Seventy-two percent of the two largest insurers in each state are no longer waiving cost-sharing requirements for COVID-19 hospitalizations as they were early in the pandemic, according...
Just-Signed Insurance Reform Bill Already Working in FL: A bill ( SB 76 ) reforming property insurance and roofing contractor practices in Florida was just signed into law by Gov. Ron DeSantis (R) on June 11 and won’t officially take effect until July 1...
Cyber Insurers Toughening Policy Requirements : Cyber policies are relatively new to the insurance business. But over the past decade the cyber insurance sector has taken off, with premiums more than doubling between 2015 and 2019 , from $1.4 billion to $3.1...
Will Cyber Insurers Stop Reimbursing for Ransomware Payouts?: For a while now the prevailing wisdom in the cyber insurance industry has been that victims should just pay off the hackers and seek reimbursement from their insurer because it’s just less costly...