Florida’s Citizens Approves Changes to Managed Repair Program to Stem AOB Abuse

Article 0 Comments Citizens Property Insurance Corp. has approved a slate of policy language changes designed to protect consumers while addressing rising costs of nonweather water loss claims and related litigation that continue to drive premiums higher, according to a statement from the state-run insurer of last resort. The policy […]

Demotech Affirms ‘A’ Ratings of Florida Insurers

Article 0 Comments Demotech will not downgrade any of the 16 Florida insurers that it said earlier this year could face financial stability ratings (FSRs) adjustments because of hurricane losses and assignment of benefits litigation during 2017. The announcement comes after the Ohio-based ratings agency affirmed the ā€œAā€ ratings in […]

Demotech Holds-Off on Affirming ‘A’ Ratings for 16 Florida Insurers

Article 0 Comments A company that rates many Florida property/casualty insurers believes hurricane losses and assignment of benefits litigation during 2017 could affect some insurersā€™ financial ratings. Ratings company Demotech says it will wait until it has analyzed year-end financial information, revised business plans and operating agreements for 2018 for […]