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The Florida Office of Insurance Regulation provides a rate comparison tool on its website for homeowners’ and autoinsurance, allowing consumers to view estimated premiums for limited types of properties and policyholders. Under a bill approved by the Florida Senate …
Progressive Insurance Company, one of America’s largest autoinsurers, is alleged to have created a scheme that would make ambulance chasers blush – directly feeding accident victim information to a law firm for solicitation. You really cannot make this stuff up.
In addition, the brief says, the number of insurers writing business in the state has rebounded after a multi-year exodus. This competition from the private market has allowed policyholders to leave Citizens PropertyInsurance Corp.
Opaque, ill-defined language empowers predatory “ billboard attorneys ” to define these terms themselves, contributing to pervasive policyholder distrust, said Jeff Sauls, Farmers Insurance head of legislative affairs. Clear communication is key, the participants agreed.
These are still missed opportunities if insurers aren’t taking advantage of them, and they represent a large portion of the portfolio of commercial propertyinsurers. We are starting to see it on homeowners insurance. These opportunities are feasible in any business line.
By Lewis Nibbelin, Contributing Writer, Triple-I The Florida Houses attempt to curtail recent legal system reforms met firm resistance from the state Senate this week, preserving the 2022 and 2023 legislation that stabilized the states propertyinsurance market.
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