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Two Florida lawmakers blame insurance companies — not new state law — for helping to fuel a condo crisis that has hit owners with rising fees and assessments in high-rise buildings.
These lawmakers from South Florida are proposing increasing the cap on the value of homes that state-run Citizens Property Insurance can cover in Monroe and Miami-Dade counties.
The Florida OIR established a reinsurance fund through its last-resort insurer, Citizens. This means that if an insurance company’s financial strength rating is downgraded below the ‘A ...
How to fix Florida's homeowners insurance. 1. Reduce risks and use more self-insurance, so homeowners have more at stake to protect; 2. ... (One condo I own just had its building coverage go from ...
Florida Gov. Ron DeSantis last week signed into law a property insurance bill aimed at lowering the state’s skyrocketing homeowners insurance costs and staving off a looming crisis.
The Insurance Information Institute (III), an industry group, reports that 80 percent of the nation's homeowners insurance lawsuits are in Florida, despite only 9 percent of the nation's insurance ...
While the insurance industry likes to point to some bad actors that defraud the system or consumers’ rights to take an insurance company to court, these are not the drivers of Florida’s ...
Home insurance costs are expected to rise by 40% in Florida in 2023; state governments have some power to limit those hikes, or to make cheaper government insurance available, but they cannot ...