Content from William Rabb
Florida Senate Committee Passes Reform Bill; Would Make Citizens’ Rates ‘Noncompetitive’
A Florida Senate Committee spent about two hours Monday reviewing a sweeping property insurance reform bill before approving it along party lines — with no changes. All nine Republicans on the ...
Florida Bills Offer Broad Attack on Insurance Costs: Legal Fees, AOBs, Reinsurance
After years of what some insurers have labeled half-measures, Florida lawmakers appear to be on the cusp of delivering "historic" and "transformational" reforms that would end one-way attorney fees, ...
Florida Special Session Agenda Calls for Claims Process Changes, More Carrier Oversight
Florida legislative leaders posted a proclamation Tuesday painting the broad outlines of the special session scheduled to begin Monday, Dec. 12. And it quickly had tongues wagging around the ...
UPC Reports $173M Loss for Q3, Begins Personal Lines Non-Renewals Jan. 1
The parent company of United Property & Casualty Co., already working to close up shop in Florida and other states after years of financial setbacks, reported a $173 million net loss for the ...
With Another Fla. Hurricane Coming, Signs Pointing to Bigger Spike in Reinsurance Rates
One of the largest providers of reinsurance for Florida carriers is predicting major increases in rates next year, a move that could add fuel to the fire for a reform package at the upcoming special ...
FEMA Flood Maps Are Misleading, Blocking Insurance Uptake: Report
Researchers at North Carolina State University have added their voices to the growing number of people who say that federal flood maps are inadequate and misleading, causing thousands of homeowners ...
Florida Cat Fund May Borrow Billions Next Year, Even Without Another Storm
The Florida Hurricane Catastrophe Fund is well equipped to handle losses from Hurricane Ian, which are now estimated to cost the fund about $10 billion, but it could mean the fund will have to borrow ...
New Weed Products and Firms Mean Concerns, Opportunities for Underwriters
The legalized cannabis industry is rapidly evolving, with new, chemically concocted variants popping up almost monthly. On top of that, management of marijuana and hemp businesses is going through ...