Florida Office of Insurance Regulation Stress Test Data Reconfirms the Financial Strength of Florida Home Insurers

October 27th, 2015|News Releases|

Florida Property & Casualty Association believes FOIR stress test results should give consumers confidence in their homeowners insurers to withstand the worst case storm seasons  TALLAHASSEE, Fla., October 27, 2015 — The Florida Office of Insurance Regulation announced the results of its third year of catastrophe stress tests, which demonstrate that the Florida property insurance market can withstand significant catastrophic losses. All of the 112 insurance companies, including 67 Florida-based insurers, that participated in the Annual Reinsurance Data Call were found to have sufficient reinsurance, capital and surplus to pay policyholder claims in the event of a one in a 100 year storm. […]

Tampa Bay Times: State regulator gives Florida property insurers high marks in hurricane ‘stress tests’

October 26th, 2015|Daily News|

Even if Florida gets blasted by four hurricanes in one season as it did a decade ago, 67 Florida-based insurance companies tested by the state have enough of a financial cushion to handle the damage, according to a new report touted by the state's top financial regulator Monday. Read more here

Miami Herald: Rick Scott assails ‘ridiculous’ Legislature, seeks $250M for job deals

October 26th, 2015|News Releases|

Gov. Rick Scott called on Florida legislators Thursday to set aside $250 million in the next state budget for economic incentive programs, an idea likely to face strong resistance from his fellow Republicans in the Senate, even though Scott's plan includes more oversight of spending by legislative leaders. Read more here

Sun-Sentinel: Consumer advocate challenges insurers on water damage claims

October 13th, 2015|News Releases|

Florida's new insurance consumer advocate wants property insurance companies to produce data to back up their statements about rising water damage claims in South Florida. Read more here