Tag: sinkholes

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!

Florida Senate OKs Ban on Insurance Underwriting Based on Gun Ownership

The Senate passed a bill that would make it illegal for insurance companies to deny policies or charge higher rates solely based on gun ownership. The bill passed on a 36-3 vote. Read more here… http://ow.ly/uMUZT

Florida May Have Private Flood Insurance Market

Homeowners in Florida are facing rising flood insurance rates that could threaten their financial stability, but state lawmakers may be able to provide some relief through new legislation. The legislation would create a competitive, private insurance market throughout the state. This would take flood insurance out of the jurisdiction of the federal government, allowing private insurers in Florida to provide this coverage to homeowners. State lawmakers believe that this will be beneficial to consumers as the National Flood Insurance Program may no longer be able to provide the coverage that homeowners need. Read more here… http://ow.ly/uMUWL

Florida’s Citizens Reaches Sinkhole Settlement

Florida’s state-backed property insurer said it has reached an agreement with more than 300 policyholders with sinkhole claims that officials say could save the insurer $30 million in legal fees. Read more here… http://ow.ly/uKvAt

Florida Legislature Seeks to Entice Private Insurers to Sell Flood Policies

The Florida Legislature is moving forward on a plan to entice private insurance companies to sell flood policies in the state that’s the most vulnerable to storm surge.

It’s not clear, though, that many private insurers will want to assume the risks of flooding and join two companies already writing certain flood policies in the state.  Read more here…ow.ly/uWHX5

Thanks for reading and sharing.  Stay tuned for next week’s review for Florida Insurance Law!

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