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Florida property insurance legislation “inadequate”, says Demotech’s Petrelli

In an exclusive interview with Artemis, Joseph Petrelli, President and Co-Founder of rating agency and consultant Demotech, Inc. explained that the special session reforms passed by the Florida legislature last week are "inadequate", when measured against what the state really needs to fix its property insurance marketplace. Petrelli told us recently read the full article →

Florida property reforms pass House, but reinsurers to remain sceptical

Progress on property insurance reform continues in the state of Florida, with the first bill from the special session now passing through the legislature having been approved on the House floor, to now make its way to the Governor for signing. But the reinsurance market is likely to remain sceptical of read the full article →

Florida insurance reforms pass Senate, but may not save all carriers

Florida's lawmakers continue to progress new legislation that they hope will stabilise the states dysfunctional property insurance market, with the package of bills now passing the Senate and heading to the House today. This is the second hurdle for the property insurance reforms, after they passed a committee on Monday. During a read the full article →

Florida’s insurance carriers over-litigated, not under-capitalized: Demotech’s Petrelli

Florida's insurance carriers face one problem above all others, the fact that they are over-litigated and being badly affected by a litigious property insurance claims environment where fraud has been de rigueur. This is according to Joseph Petrelli, President and Co-Founder of rating agency and consultant Demotech, Inc., who believes it read the full article →

Florida insurance bills pass first hurdle. But details to matter

Florida's Legislature made progress on some of the property insurance reform bills that were heard by a committee yesterday, moving them on to the Senate, but the details underlying the reforms will matter for the reinsurance market and the prospects of meaningful change. Positively though, the fact legislation is making progress read the full article →

Florida: Some carriers are on life support, others about to pull the plug

Driving home the seriousness of the situation in Florida's property insurance market today, the sponsor of one of the bills being discussed at the special legislative session in Tallahassee said on the floor that some carriers in the state are "on life support." The bill, brought to the special session by read the full article →

Florida’s special session property insurance reforms: Opportunity lost?

Industry contacts have been raising concerns over the weekend, that proposed property insurance related legislation set to be raised during Florida's special session of the legislature this week will not go far enough on litigation and won't do enough to bring reinsurance market confidence back to the state. Bills have been read the full article →

“Really significant” property insurance reforms for Florida: DeSantis

The Governor of Florida Ron DeSantis expects the special session of the legislature will deliver "really significant reforms" to Florida's property insurance sector, that he believes can stabilise the marketplace there. As we've been explaining, DeSantis set a special legislative session for later this month, with the primary goal of reforming read the full article →

Florida “flash point” as reinsurance market begins to throw in the towel: ALIRT

Having previously warned that the Florida insurance market has spent the last 30 years kicking the can of its problems down the road, a road that is now running out, ALIRT analysis now suggests the market is at a "flash point" moment, where it risks reinsurance capital pulling-back even more read the full article →

Florida Special Session to focus on fraud, AOB abuse & affordability: CFO Patronis

Florida's lawmakers are set to focus on affordability of property insurance for citizens of the state at the upcoming Special Session, with tackling fraud and abuse of assignment of benefits (AOB) both key areas to reform, according to the states CFO Jimmy Patronis. Speaking in the last hour, alongside Florida's Citizens read the full article →