Florida Insurance Council - Covering Florida Since 1962
By: Katrina Callaway, FIC General Counsel A priority issue for the FIC Property Insurance Committee started moving in the Senate on January 21, 2020 when the Senate Banking and Insurance Committee approved SB 914 with a party line vote of 5-3. The originally filed bill repealed the contingency risk multiplier used in property insurance…
By: Katrina Callaway, FIC General Counsel Bills increasing the FIGA coverage limit and the FIGA emergency assessment maximum for condominium association and homeowners’ association FIGA claims started moving in the House and Senate on January 15, 2020 when they passed their first House and Senate committees. The bills were supported by various condo association trade…
By: Katrina Callaway, FIC General Counsel On January 10, 2020, Sen. Gainer (R-Panama City) filed a bill proposing significant changes to property insurance law. He filed the bill presumably as a result of his constituent’s experience with Hurricane Michael claims. There is no House companion bill yet. The primary focus of SB 1760 is surplus…
By: Katrina Callaway, FIC General Counsel Yesterday, agency bills for the Department of Financial Services and CFO Jimmy Patronis were filed in the House and Senate. Though the bills are titled “consumer protection.” HB 1137 and SB 1492 contain numerous provisions on property insurance claims handling that property insurers should review. Many of the…
By: Greenberg Traurig Citizens Board Meeting The Board of Citizens Property Insurance Corporation (Citizens) met Wednesday in Orlando. Outlined below is a summary of some of the actions taken by the Board. Also provided are the links to the materials provided at the meeting. Comments by Citizens Chair – Chair Bo Rivard kicked off the…