Citizens claims expected to top $1.2 billion

TALLAHASSEE, Fla. – Sept. 27, 2017 – An estimated $1.23 billion in claims are expected to be filed by Citizens Property Insurance policyholders because of damage from Hurricane Irma, the state-backed insurer announced Wednesday. However, with 70,000 claims now anticipated to be filed over the next two years, down from earlier projections, the money for […]

Water leak? Insurance will reimburse no more than $10K

A water pipe breaks inside a wall of your house while you are at work, and you return home hours later and find water everywhere – warping your cabinetry, soaking your drywall, and destroying a large section of your wood floor. If you’re a customer of Citizens Property Insurance Corp., you will soon face two […]

Citizens customers could be paying more in 2018

Florida’s state-created property insurer is probably going to raise its rates again. The board that oversees Citizens Property Insurance will vote Tuesday on a proposal to raise homeowner rates an average 5.3 percent and commercial accounts by an 8.4 percent average. State regulators must approve the hike before it can take effect in February. Citizens […]

Citizens will be insuring more Fla. homes

Get used to the idea that more South Florida homeowners will be forced back to state-run Citizens Property Insurance Corp., the so-called insurer of last resort. That’s the message members of the Professional Insurance Agents of Florida will be hearing when they convene at the Rosen Plaza Hotel in Orlando on April 27-28 for their […]

What is a CLUE report?

Homebuyers often shop around for the best rate on a homeowners insurance policy, but 86 percent of Americans don’t realize that the policy amount is based, in part, on the home’s claim history. Sellers who make too many property insurance claims could harm future buyers, yet most buyers are unaware that actions take by a […]

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 […]