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- Citizens Offers Cheaper Rate Option With No Fanfare
Last year, the Florida Legislature mandated Citizens Property Insurance Corp. to offer a cheaper, more limited coverage option to homeowners, potentially saving them up to 70 percent on their premiums.Hurricane Season 2013: PCI Urges Property Owners, Renters To Start Storm Proofing, Disaster Planning
The Property Casualty Insurers Association of America (PCI) recommends that homeowners, businesses owners and renters take all the necessary steps to ensure that everyone is prepared for the potentially devastating effects of a major storm. There are many things that can be done to help protect people and structures prior to the start of hurricane season on June 1st.AIR Will Not Link to New RMS(one) Platform!
RMS unveiled the new platform at its Exceedance 2013 client conference last week. The new system, which will be available from April 2014, will host third-party models and analytics as well as RMS’s own.RMS Unveils Open Risk Management and Modelling Platform
Risk modelling firm RMS has unveiled a new risk and exposure management platform called RMS(one) at its Exceedance 2013 client conference in Boston.Florida Citizens Legislation Is Another Step Forward
PCI commends the House and the Senate for arriving at a compromise in producing legislation intended to slow the growth of Citizens Property Insurance Corporation. We congratulate the legislature on its diligent work crafting a bill that lays the groundwork for continued Citizens reforms in the future. This bill is yet another step towards returning Citizens to its rightful place as Florida’s insurer of last resort.Move to Let Surplus Lines Companies Take Over Citizens Policies Rebuffed in House!
Although the House unanimously passed HB 909 last week, which prevents homeowners being shopped in a “clearinghouse” from being taken over by an out-of-state surplus lines company with unregulated rates, a bill opening up the clearinghouse to surplus lines companies was voted down on the House floor Monday.Insurance Execs Confident Commercial Lines Pricing Will Rise: Munich Re
Insurance executives express confidence that pricing for commercial lines will rise in the next six months, according to survey results released Tuesday by Munich Re.David Simmons & Bryan Nelson… Where Does All the Money I Pay For Homeowners’ Insurance Go?
Approximately 72 cents of every insurance premium dollar goes to cover catastrophe and noncatastrophe losses.New Citizens Property customers — not current — to see rate increases under bill approved by Senate
A contentious overhaul of Citizens Property Insurance Corp. passed the Florida Senate on Thursday, after the bill’s sponsor made key changes to protect hundreds of thousands of current policyholders from large rate hikes.Citizens Insurance overhaul bill delayed — again
A scheduled vote on a major insurance overhaul was again postponed Wednesday, indicating that fear of skyrocketing rates is weighing down the bill in the Florida Senate.
Bill sponsor Sen. David Simmons, R-Altamonte Springs, said last week that he has enough support for the bill but wanted more time to make amendments and build more consensus.