Governor Ron DeSantis Announces More Than $20 Million for Counties Recovering from Hurricane Michael
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GT: Citizens Board Meets; OIR Approves Citizens 2020 Forms
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…
FIC: Condo Property Insurance Subrogation Bill Moves In House
By: Katrina Callaway, FIC General Counsel HB 623, is a comprehensive condo association bill that contains one insurance provision. That provision prohibits a condo unit owner’s property policy from allowing the unit owner to subrogate against the condo association if the association’s policy does not allow the association to subrogate against the unit owner. The…
Citizens again to evaluate reduction options
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FIC: Reinsurance Market Update Given To Senate Committee
By: Katrina Callaway, FIC General Counsel During last week’s Senate Banking and Insurance Committee meeting, the Office of Insurance Regulation (OIR) provided an overview of reinsurance and discussed price trends for reinsurance. Their presentation can be found here starting at page 69. OIR told the Committee that reinsurance is important because it expands capacity in…
FIC: Citizens Property Updates Committee On AOB And Litigation
By: Katrina Callaway, FIC General Counsel During its committee meeting last week, the Senate Banking and Insurance Committee received a short update from Citizens Property Insurance on AOB and litigation trends. Because their presentation was cut off due to time constraints, it will be rescheduled for a later meeting. The Citizens’ presentation can be found…