All Florida articles – Page 9
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NewsElsa set for landfall along north Florida Gulf Coast
Tropical Storm Elsa is forecast to make landfall along the north Florida Gulf Coast later this morning before moving across the southeastern US over the coming days.
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Elsa maintains forecast track ahead of expected Florida landfall tomorrow
Tropical Storm Elsa looks set to become the third named storm landfall in the US of the year within the next 36 hours, with the storm on course to come ashore on Florida’s west coast.
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Elsa weakens back to tropical storm but remains on Florida track
Florida looks set for tropical storm conditions within the next 24 hours as Elsa continues its journey towards the US.
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Elsa becomes first Atlantic hurricane of 2021
Elsa has been upgraded from a tropical storm to become the first hurricane of the 2021 Atlantic season, with maximum sustained winds now reaching 75mph.
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Florida judge: $48mn insurance limits not enough to cover Condo collapse lawsuits
The $30mn Great American-led property policy and $18mn of general liability limit written by insurers including James River will “obviously be inadequate” to cover lawsuits filed by victims of last week’s Champlain Towers South condo collapse and their families, a Florida judge has said.
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James River commits to Florida condo collapse GL pay out
James River has offered to tender the entire limit of its surplus lines liability policy covering the Champlain Towers South Condo that partially collapsed last week.
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Tropical Storm Elsa has Florida in long-range sights
Early season Atlantic storm activity has continued its rapid pace with the formation this morning of Tropical Storm Elsa, the fifth named storm of the season.
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Demotech: potential Gulfstream investor stepped away after 2021 storms
Demotech pulled its rating on Gulfstream Property and Casualty Company after a potential new investor walked away from the Florida-based homeowners specialist as it became clear that a string of 2021 loss events would require a bigger capital infusion than initially estimated, The Insurer can reveal.
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Florida governor DeSantis vetoes no-fault auto repeal bill
The auto insurance bill that was passed by Florida’s legislature to repeal the state’s motor vehicle no-fault law and its personal injury protection insurance requirement has been vetoed by governor Ron DeSantis.
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Marsh hits back at Aon’s “inflammatory rhetoric” in Florida poaching row
Marsh has hit back at Aon’s lawsuit over the hiring of 44 mostly Florida-based staff, describing it as a “calculated act of desperation” and stating that its rival is attempting to “bully its employees and unfairly squash competition”.
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Gulfstream P&C under FLOIR supervision as Demotech pulls rating
Gulfstream Property and Casualty Insurance Company has been placed under the administrative supervision of the Florida Office of Insurance Regulation (FLOIR) with Demotech also pulling its rating on the homeowners carrier after it was unable to meet minimum statutory surplus requirements.
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HCI insurtech TypTap recruits Gemini Re’s Rosencrans for reinsurance role
HCI Group’s fast-growing insurtech subsidiary TypTap has hired former Gemini Re portfolio manager Travis Rosencrans as vice president for risk and reinsurance.
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Great American leads Miami building collapse AOP property insurance
Great American is the lead carrier on the all other perils (AOP) property cover for the Champlain Towers South Condo that partially collapsed on Wednesday night in Miami, Florida, The Insurer understands.
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FedNat ups agg reinsurance cover for 2021-2022 at “more restrictive terms”
FedNat has placed its 2021-2022 excess-of-loss catastrophe reinsurance program, which provides $1.41bn of single-event reinsurance coverage and up to $2.25bn of aggregate coverage at a total cost of $287.7mn, with the Florida-based insurer noting the “more restrictive terms” on offer from reinsurers.
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AM Best downgrades Safepoint to C++ and withdraws rating
AM Best has downgraded Florida carrier Safepoint Insurance Company’s financial strength rating to C++ (Marginal) from B- (Fair) as it pointed to capital erosion at its parent, and withdrawn the rating at the company’s request.
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UPC enters $120mn quota share with HCI
United Insurance Holdings (UPC) has entered into a quota-share reinsurance agreement with Florida-based insurtech HCI Group.
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MGAs using QBE and Zurich paper pick up Everest’s Florida condo accounts
MGAs Florida Intracoastal Underwriters (FIU) and Sigma Underwriting Managers (SUM) with capacity from QBE and Zurich have picked up many of Everest’s Florida condo construction accounts as it continues its process of exiting the admitted and non-admitted condo market in the Sunshine State.
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Aon receives Florida approval for new hurricane model release
Aon’s Impact Forecasting unit has released a new hurricane model which has been certified by the Florida Commission on Hurricane Loss Projection Methodology (FCHLPM) for ratemaking in the state, The Insurer can reveal.
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Marsh hires senior Aon exec Parrish and others in latest major Florida broking move
Marsh has hired the long-serving head of Aon’s East Coast region Michael Parrish and more than 10 of his colleagues in what represents the latest shake up of Florida’s broking market in recent months.
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Florida governor DeSantis signs property insurance reform
Florida governor Ron DeSantis has signed a property insurance reform bill into law that includes changes to the Sunshine State’s attorney fee statute, a shortening of the deadline for filing a claim and a raise of Citizens’ cap on annual premium increases.
