Archives for 2015

Citizens proposes rate hikes for coastal customers

TALLAHASSEE, Fla. – June 23, 2015 – More than half of Citizens Property Insurance customers will face rate increases next year, under a proposal going before the insurer’s Board of Governors on Wednesday. The biggest increases are expected to hit coastal policyholders. “The overall increase is being fueled by a continued spike in water loss […]

Ready or not, hurricane season arrives Monday

TALLAHASSEE, Fla. – May 29, 2015 – Florida is due for a hurricane. Overdue, in fact. The last storm to hit Florida, Hurricane Wilma, came ashore Oct. 24, 2005, and Floridians with homeowners’ insurance policies are still paying, at least for one more month. Florida officials believe they are as ready as possible, in terms […]

31 arrested in organized insurance fraud scheme

Miami-Dade State Attorney Katherine Fernandez Rundle on Wednesday announced the arrests of 31 people charged with bilking insurance companies out of more than $7 million by intentionally setting fires and causing floods in homes across the state. Dubbed Operation Flames and Flood II, the state attorney’s office, along with the Florida Fire Marshall’s Office and […]

State Farm sheds 10% of Fla. policies in past year

State Farm, once Florida’s largest home insurer, has parted ways with about one in 10 of its remaining homeowners, or more than 40,000, in the year since announcing it is writing new business in the state again, according to data requested by The Palm Beach Post. James Savage said he “almost blew an artery” when […]

FAA gives insurance giant AIG approval to replace human inspectors with drones

Every year, in big cities and small town across the US, insurance inspectors scramble up onto the roofs of buildings to check for storm damage and venture into structures ravaged by natural disasters. In the otherwise boring world of processing and paying claims, this field work can actually be quite dangerous. Which is why the […]

Fla. property insurance documents enter computer age

TALLAHASSEE, Fla. – April 7, 2015 – The Florida Legislature has taken a step to modernize Florida insurance laws by passing House Bill 273, which would give policyholders the option to receive insurance documents via email rather than regular mail delivery. “This is great for Florida consumers and it helps insurers meet policyholder’s demands by […]

Homeowners Insurance: Time for an Annual Check-Up

An annual check-up on your homeowners insurance can result in a healthier policy and a healthier pocketbook. It’s time for your annual check-up. The good news is that for this one, you won’t have to don one of those revealing hospital gowns — and you may walk away with a healthier pocketbook. We’re talking about […]

Citizens Ins. to accept alternate mobile home valuation tools

Citizens Property Insurance Corporation says it now accepts alternative valuation methods from policyholders to ensure their mobile and manufactured homes are properly covered. On March 2, Citizens began sending out the first of 100,000 postcards to mobile and manufactured home owners encouraging them to talk to their insurance agents to ensure that improvements and upgrades […]

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Flood insurance premiums can go up after April 1

A bulletin released by the National Flood Insurance Program (NFIP) outlines changes in flood insurance rates after April 1, 2015, that are allowable under a law passed last year – the Homeowner Flood Insurance Affordability Act (HFIAA) that changed some details of the Biggert-Waters Act. Both HFIAA and Biggert-Waters are complex documents, and it’s important […]