Content from William Rabb
Will Ian Consume Florida Cat Fund, Forcing More Back-Breaking Reinsurance?
While some analysts are predicting that the property insurance industry will be able to manage Hurricane Ian and its estimated $50 billion in insured losses, a few are now warning that the storm ...
Citizens’ Early Ian Loss Estimate $3.8B; Florida OIR Suspends Use and File
Hurricane Ian continued to churn through central Florida Thursday morning, leaving widespread flooding and wind damage in its wake. It was too early to know the extent of property insurance claims ...
AM Best Reports: How Much Florida Carriers Depend on Reinsurers
Florida-domiciled property carriers are extremely reliant on the reinsurance market, making them vulnerable to coming price hikes, a just-released report from the AM Best financial rating firm said. ...
30 Years Ago Andrew Upended Florida, But Current Legal Storm May Be Worse
Thirty years ago Hurricane Andrew, the strongest storm to make U.S. landfall in more than two decades, gouged its way across south Florida, destroying more than 25,000 homes, by some estimates, and ...
Georgia Insurance Commissioner Slams Allstate’s 25% Auto Rate Increase
The Georgia insurance commissioner is publicly shaming one of the country's largest auto insurers after the carrier announced an average 25 percent rate increase in the state. "I am angry and ...
Forged Signatures, Fake Policies? Lawsuits Raise Questions About Captive Plan
The owners of one of the oldest insurance agencies in Texas must have felt pretty surprised when they were named in a federal lawsuit brought by an AIG company, alleging the agency was part of an ...
Florida Regulators Unveil Ratings Crisis Solution: Let Citizens Reinsure Carriers
Florida's insurance commissioner announced Wednesday that his office has found an "unprecedented solution" to the looming property insurer rating crisis — let Citizens Property Insurance Corp. ...
Overdue or Overboard? Florida Divided on Demotech’s Planned Downgrades
The property insurance community has divided into two camps after the firestorm that erupted over the potential financial rating downgrades for 17 Florida insurance carriers. One camp argues that the ...