The December 2022 property insurance market reforms passed by the Florida Legislature are making a big difference already, with fewer and less severe non-hurricane claims and fewer daily lawsuits, according to a major Florida insurance company.  Former Florida Deputy Insurance Commissioner Lisa Miller talks with Stacey Giulianti of Florida Peninsula Insurance Company on how the reforms have leveled the playing field in insurance litigation and together with innovative industry practices, will bring positive results for consumers, carriers, and their reinsurance companies. Show Notes St ..read more

The Florida Legislature is meeting in special session the week of December 12 to address two issues vital to Florida’s economy: disaster relief for Hurricane Ian victims and further insurance consumer protections for homeowners across the state.  Property insurance and reinsurance rates have grown by 100% or more in the past three years, yet insurance companies’ losses continue, with six carriers becoming insolvent this year, and 13 others withdrawing coverage, driven in part by a nearly 400% increase in claims litigation since 2013.  Former Florida Deputy Insurance Commissioner Lis ..read more

Most damage from Hurricane Ian appears to be from flooding, rather than wind, and thus won’t be covered under most Florida homeowners insurance policies.  Insurance adjusters face a challenging job now determining whether it was wind or water or both that damaged a home, and in some cases in what order, for hundreds of thousands of properties across Florida. Former Florida Deputy Insurance Commissioner Lisa Miller talks with a seasoned insurance defense lawyer on how coverage is determined, who will pay, and the case law involved for those disputed claims that end up in court. Show Note ..read more

Alternative dispute resolution – including appraisal – is playing an increasingly important role in settling homeowners property insurance claims.  Florida’s 2019 Assignment of Benefits (AOB) law requires third party contractors to utilize these alternatives before filing a lawsuit against an insurance company, if required by the policy.  Former Florida Deputy Insurance Commissioner Lisa Miller talks with a repair contractor and an insurance appraiser who share how today’s technology and methods can not only reduce lawsuits, but herald the return of good customer service and improve ..read more

The Florida Legislature in a May special session passed a series of reforms to help stabilize a property insurance market that has seen a growing number of carriers stop writing business or becoming insolvent.  Homeowners rates keep growing by double-digits and coverage is increasingly difficult to obtain.  Former Florida Deputy Insurance Commissioner Lisa Miller talks with a lawmaker who was one of the handful of leaders behind the reforms and the head of a litigation analytics firm on whether the two new laws will help re-right the marketplace and lower homeowners rates - and what ..read more

The Florida Legislature will meet in a special session May 23-27 called by Governor Ron DeSantis to “bring some sanity and stabilize” Florida’s property insurance market.  Homeowners are suffering big rate increases and some have lost their coverage, while a growing number of insurance companies are going insolvent or reducing or eliminating their policy-writing in the state. Former Florida Deputy Insurance Commissioner Lisa Miller explores the problems in the marketplace with an insurance agency executive and a top real estate agency owner who share their ideas on which reforms would be ..read more

Beside their direct impact on Florida homeowners, multiple double-digit rate increases in property insurance are impacting Florida’s real estate market as well.  If rates continue to rise, there’s concern they will affect the availability and affordability of insurance for new homebuyers.   Former Florida Deputy Insurance Commissioner Lisa Miller explores the reasons for the increases, including increased insurance litigation, and how they’re now impacting the state’s economy. Show Notes In a recent address to the Pensacola Association of Realtors, host Lisa Miller identified som ..read more

The Florida Legislature begins its 2022 session on January 11.  Among the bills filed are those seeking enhanced insurance consumer protection, greater safety for high-rise condominium buildings following the Surfside collapse, COVID-19 relief, controls on prescription drug costs, and legislative redistricting.  Former Florida Deputy Insurance Commissioner Lisa Miller sat down with state capitol reporters Mike Vasilinda of Capitol News Service and Jim Saunders of the News Service of Florida, to discuss which bills may get serious consideration and why. Show Notes With 2022 being ..read more

Florida Insurance Commissioner David Altmaier told a legislative committee in late September that the state’s property insurance market is in “critical condition” with a growing number of insurance companies losing money and consumers facing continued double-digit rate increases.  A new set of reforms designed to help is already being challenged in federal court by roofers and restoration companies. Former Florida Deputy Insurance Commissioner Lisa Miller sat down with Jose Pagan, a former fraud regulator who is now one of Florida’s leading insurance defense lawyers, to discuss the lega ..read more

In the wake of the Champlain Towers South condominium building collapse, insurance companies are looking to tighten their underwriting requirements on Florida condo association policies.  Policy renewal premiums are expected to increase up to 25% for those that can’t show a good building maintenance record.  While the commercial residential market tightens, Florida’s homeowners insurance market is going through an upheaval of its own.  One insurance litigation reform measure passed into law is now coming into play in court: presuit settlements. Former Florida Deputy Insurance ..read more