Florida

Under fire from consumer advocates after failures of new home insurers in the state, the ratings agency says its scores are meant to show an insurer's current health, and prospects for a maximum of one year. Reinsurance and the insurer's choice of policies being taken from the insurer of last resort can cause problems that surface later.

The Office of Insurance Regulation and three advocacy groups paint conflicting pictures of insurance affordability, coverage availability and claims handling.

Reed Smith insurance plaintiff attorney Hugh Lumpkin points to 90% of Citizens Property Insurance arbitrations denying claims, with insurer funding judges' salaries.

A report by Weiss Ratings, based on state regulators' data, finds insurers more aggressively denied claims under the law, and claimants responded with more lawsuits.

Larger states are more likely to have funds for prevention of natural disasters and responses to these events, says Chip Merlin, an attorney who represented Hurricane Katrina survivors.

A Category 5 hurricane could lead to more than $200 billion in damage, Moody's Analytics said in a report released before the 20th anniversary of Hurricane Katrina.

Uber sued a group of lawyers, medical providers and rideshare drivers it claims staged car accidents, manufactured damages and received unnecessary medical procedures to take advantage of insurance policies in Florida.

The insurer plans to hire over 2,000 new employees in Tampa, Florida and in North Texas.

After some significant tort reform gains were made in 2023 and 2024, abolishing PIP may no longer be a pipe dream.

Coastal habitats, coral reefs and mangrove swamps, can reduce flood losses, according to a new Swiss Re Institute study that includes analysis of flood insurance claims.

The recovery of local governments and utilities from hurricanes Helene and Milton continues but the outlook for next season and beyond is troubling.

The agency cited the closeness of the entities to Florida's government.

How insurers can leverage AI, specifically computer vision, to handle both major catastrophic and emerging micro-CAT events.

Moody's believes Florida will sell bonds to help replenish the CAT fund this spring.

Hurricane Milton was moving off Florida's east coast after cutting a path of destruction through the state, leaving residents to assess the damage from one of the most feared storms in recent history.

Estimates for insured losses from Hurricane Helene have climbed to as much as $14 billion, even as insurers are preparing for more devastation from Hurricane Milton.

Tropical Storm Milton, with winds of 40 miles per hour, is forecast to build into at least a Category 3 hurricane with winds of 115 mph when it makes landfall in western Florida on Oct. 9, the US National Hurricane Center said.

The destruction from Hurricane Helene is expected to cost insurers roughly $6.4 billion, according to an early estimate from catastrophe modeling firm Karen Clark & Company.

As historic floodwaters unleashed by Hurricane Helene recede across the U.S. Southeast, the region faces a humanitarian, economic and ecological crisis of staggering scope, with effects likely to last years.

State and federal relief efforts are stepping in to help areas hit by Helene that are not covered by flood insurance.