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The ratings agency placed the carrier’s ratings on negative review earlier this year, prompting broker and cedant scrutiny. -
The leadership contender is said to be privately critical of the FCA, which has been beset by strikes and delays.
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Nicole Fried cited her department’s duty to act in consumers’ best interests.
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With many local insurers essentially “zombie companies”, state legislators need to end one-way fees and assignment of benefits.
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Joe Petrelli said Demotech would continue to follow its independent methodology, despite outside pressure.
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No matter what the outcome, further market dislocation is on its way – but there are various band-aid options that could help Florida insurers limp through hurricane season.
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Reinsurers secured concessions on terms and hiked rates as most insurers managed to patch together cover to enter hurricane season.
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The contractors’ association argued the law would prevent contractors who hold AoBs from recovering their attorneys’ fees if they prevail in a lawsuit against an insurance company.
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The proposed Florida special session Senate bills 2-D and 4-D have overwhelmingly passed the house floor and will now move to Florida Governor Ron DeSantis for signing.
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State representatives will vote on the bill on the House floor tomorrow.
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The Bank of England’s report warned of significant data gaps and said general insurers are at risk of climate-related litigation.
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State senators will vote on the bill on the Senate floor tomorrow.
