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A 2021 analysis by then-Florida Insurance Commissioner David Altmaier found that Florida made up 8% of the nation’s homeowners’ claims in 2019, but 76% of its lawsuits.
In 2022, news that 27 of Florida’s property insurance companies were potentially facing a financial rating downgrade from Demotech, the state’s primary financial rating firm, created panic in ...
The Florida OIR established a reinsurance fund through its last-resort insurer, Citizens. This means that if an insurance company’s financial strength rating is downgraded below the ‘A ...
The Florida Insurance Guaranty Association board met on March 31 and filed for an emergency assessment of 1% on all Florida property insurance policies. [32] That is in addition to a 0.7% for 2022, a 1.3% assessment from July 1 2022 to June 30 2023, and another 0.7% ending December 31 2023. [32]
Failure to do so would cause Demotech to downgrade the financial stability ratings for "a number" of Florida insurers. The letter stated: "The conditions of the property insurance marketplace in Florida are unsustainable, and without the necessary corrective action, many Florida insurers will struggle to maintain adequate surplus, efficient ...
Florida's Division of Insurance Fraud continues to lead the fight against insurance fraud under the leadership of Colonel John Askins. During Fiscal year 2008/2009, investigative efforts by The Division of Insurance Fraud resulted in 982 cases presented for prosecution, 834 arrests, and 532 convictions. Also during Fiscal Year 2008/2009, The ...
Insurance company ratings take into account a number of factors. Besides the finances, the general health and ethics of the company are also considered before rating the insurer. Some other ...
The Florida Sun-Review is a weekly African-American newspaper in central Florida. It is published in Orlando , with primary distribution points in Orange, Osceola, and Seminoles counties. [ 1 ] It was founded in the 1920s [ 2 ] and changed ownership in the '30s and again in the '70s. [ 2 ]