A new report claims that Florida's property insurance market is full of “low quality insurers,” especially those Florida-based companies that write the bulk of the 7.5 million homeowners and condo insurance policies.  It casts aspersions on Demotech, the rating agency that reviews their financial stability. Former Florida Deputy Insurance Commissioner Lisa Miller sat down with Demotech President Joe Petrelli to get the other side of the story that the report didn't.  She also learned that it wasn't low capital and surplus that led to seven company insolvencies, as the report claims ..read more

How will the insurance bills that passed in the recently completed 2024 Florida legislative session compliment past marketplace reforms?   Is a property insurance market marred by carrier insolvencies in recent years and ongoing double-digit rate increases starting to stabilize?  Former Florida Deputy Insurance Commissioner Lisa Miller talks with two legislators about the new laws expected to impact Florida’s property insurance and real estate markets, reinsurance prices, condominium affordability, and their joint belief in bipartisanship for finding workable policy solutions.  ..read more

Ray Shelton, Ph.D. is a nationally-known expert on stress and the impacts it has on frontline personnel in disasters and other crises.  He is a Fellow and the Director of Professional Development for The American Academy of Experts in Traumatic Stress, in Miller Place, New York.  He’s seen tragedy first-hand over 35 years serving with the Nassau County, New York Police department, including the Twin Towers Collapse during 9/11.  He’s also a former firefighter and paramedic. “The adjusters are no different than fire, police, and EMS, they're front line.  They're action-ori ..read more

Advances in artificial intelligence (AI) and machine learning are getting closer to providing insurance companies with a new underwriting tool to combat fraud: the ability to review meeting minutes and other public documents from homeowners and condominium associations, whose communities are home to nearly half of Florida’s 22.3 million residents. Several Florida associations have been accused of recent wrongdoing, including one where four former board members were arrested, accused of engaging in a multi-million dollar embezzlement of monthly dues from residents.  Former Florida Deputy ..read more

Media coverage has intensified over an allegation by three independent insurance adjusters that Florida property insurance companies are cheating their policyholders out of rightful claim payouts.  The three accuse the industry of altering their field adjuster reports and reducing claim payouts – all without their knowledge or approval.  Former Florida Deputy Insurance Commissioner Lisa Miller sat down with two independent field adjusters and an attorney who represents insurance companies to learn their perspective and just how damage claims – and their payouts – are ultimately deci ..read more

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