Latest Insurance industry News

Florida Legislature approves property insurance package

May. 25, 2022 17:09 PM EDT

TALLAHASSEE, Fla. (AP) — The Florida House of Representatives on Wednesday gave final passage to sweeping property insurance legislation that creates a $2 billion reinsurance fund and rewrites rules on coverage denials and attorney fees, as lawmakers attempt to stabilize rising rates and insurer...

Florida passes condominium safety bill in wake of Surfside

May. 25, 2022 17:08 PM EDT

TALLAHASSEE, Fla. (AP) — Florida would require statewide recertification of condominiums over three stories tall under a bill sent Wednesday to Republican Gov. Ron DeSantis by lawmakers, their legislation a response to the Surfside building collapse that killed 98 people. The House...

Editorial Roundup: Florida

May. 25, 2022 16:19 PM EDT

South Florida Sun Sentinel. May 24, 2022. Editorial: Florida’s new elections chief won’t bury The Big Lie Gov. Ron DeSantis’ new chief elections official, Cord Byrd, could have saved himself a whole lot of justifiable criticism Tuesday if he had simply...

Florida Senate passes property insurance package

May. 24, 2022 18:58 PM EDT

TALLAHASSEE, Fla. (AP) — The Florida Senate on Tuesday approved a sweeping legislative package meant to combat rising property insurance rates and other problems in the state's turbulent insurance market, creating a $2 billion reinsurance fund and writing new rules around coverage denials and...

Florida insurance bills clear committee, move to Senate

May. 23, 2022 16:10 PM EDT

TALLAHASSEE, Fla. (AP) — The Florida Legislature on Monday began a special session focused on fixing the state's turbulent property insurance market, advancing sweeping legislation to create a $2 billion reinsurance fund and place new rules around attorney fees and coverage denials as lawmakers...

Florida bills limit roof refusal by insurers, add new fund

May. 21, 2022 17:02 PM EDT

ORLANDO, Fla. (AP) — Legislation proposed by Florida lawmakers for an upcoming special session to reform the state's property insurance market would create a $2 billion reinsurance fund and prohibit insurers from automatically denying coverage to homeowners' with older roofs. Four...

Florida lawmakers to meet for session on property insurance

May. 20, 2022 16:54 PM EDT

TALLAHASSEE, Fla. (AP) — Florida lawmakers return to the Capitol next week for a special legislative session aimed at addressing problems in the state’s turbulent property insurance market, a persistent and multifaceted crisis in a region vulnerable to damaging hurricanes. It is...

Judge: NC insurance mogul defrauded companies he invested in

May. 19, 2022 15:42 PM EDT

RALEIGH, N.C. (AP) — A North Carolina insurance magnate must give up control of his private companies to comply with a 2019 agreement to ensure several insurers within his business empire are paid over $1 billion, a state judge has ruled. Ruling in a civil lawsuit from which he...

Editorial Roundup: Florida

May. 18, 2022 07:12 AM EDT

Palm Beach Post. May 11, 2022. Editorial: Lawmakers must fix housing crisis in special session Palm Beach County and many parts of Florida have become too expensive to live. It shouldn’t take skyrocketing housing and insurance costs to convince state leaders to get...

A month after Georgia tornado, some families still struggle

May. 15, 2022 00:12 AM EDT

SAVANNAH, Ga. (AP) — Nolan Driggers reached for the front door, kids in tow and his wife one step behind him. The family of four was trying to leave their home in Ellabell and hit the interstate after hearing about a tornado that touched down in Pembroke. Driggers did not realize...