Here are some recent articles of interest that I found this week for the insurance industry, Florida insurance law, Florida insurance claims, and Florida insurance trends. Enjoy!
Switching to a Cheaper Property Insurance Company? Better Think Twice
Over the past few months, many Citizens Property Insurance policy holders received a notification that, unless they opted out within a certain time frame, their property insurance would be automatically transferred out of Citizens and into one of several small start-up insurance companies. These newly formed property insurance carriers have been nick-named “take-out” companies because their sole source of new business is to take over property insurance policies that have been transferred out of Citizens.
This process has created a love/love relationship between Citizens and these new insurance companies as, through the transfer of policies out of Citizens and into these new start-ups, Citizens can further its goal of depopulating its customer base and the new start-ups get “free” customers without having to market for same.
Read more here…
Florida Gov. Scott Facing Rising Seas, Climate Change Politics
When Florida Governor Rick Scott won re-election Nov. 4, he triumphed over both his Democratic challenger and California billionaire Thomas Steyer, who spent $20 million painting him as a climate-change denier.
Scott, a 61-year-old Republican who during the campaign deflected questions about the topic by asserting that he isn’t a scientist, has little time to celebrate.
Read more here…
Thank you for reading (and sharing). Stay tuned for next week’s weekly review for Florida Insurance Law!
