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Here’s what HOAs in Florida can and can’t do to their residents under the new Florida HOA laws and which HOA rules residents can legally fight.
July 1, 2024, a Florida new law limiting what HOAs in the state or Palm Beach County can do to their members went into effect. Here are 8 changes to rules.
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The Citizens Property Insurance Corporation, a state-established insurance nonprofit company, has a $100 million annual legal defense fund and 20,000 open lawsuits pending, reports III.
That issue was one of the reasons cited by insurance companies leaving Florida according to the Insurance Commissioner Michael Yaworsky. [37] In August 2023 FOIR announced that Mainsail Insurance Company from Texas was approved to operate in Florida. They also disclosed that 280,000 of Citizen's policies were approved for assumption by several ...
The bill would have trumped state regulation, and allowed Florida's biggest insurance companies to establish their own rates. [ 12 ] Remarking upon State Farm's pullout from Florida, Ted Corless , a property insurance attorney who has represented large insurance carriers like Nationwide , noted "that homeowners are really going to have to look ...
HOAs are collecting additional dues to comply with these new requirements. Insurance costs have also skyrocketed throughout Florida for condos and single-family homes, with a Redfin survey ...
State regulators have approved new insurance companies to enter Florida’s market. Others are forming, and although companies like Farmers and Progressive recently announced plans to leave or ...