Florida property insurers face ratings downgrades (via Sun Sentinel)

Fort Lauderdale, Feb. 9, 2017 – Looming ratings downgrades for six to eight Florida-based property insurers could affect about 250,000 policyholders statewide, forcing some to find new insurers, according to sources familiar with an advisory issued this week by ratings agency Demotech. The company, whose Financial Strength Ratings (FSNs) determine which insurers are acceptable to…

Grant Funding Available Now for Wind Mitigation Retrofits for Vulnerable Condominium Community in Florida (via Florida Condo & HOA Law Blog)

FAIR (Florida Association for Insurance Reform) is seeking a low to moderate income condominium community to benefit from a Residential Construction Mitigation Program (RCMP) grant from the Florida Division of Emergency Management. The $194,000 grant will be used to supplement the cost of wind mitigation improvements that increase community safety and reduce insurance premiums and…

FEMA Extends Filing Deadlines for NFIP Flood Insurance Claims Associated with Hurricanes Hermine and Matthew (Florida Office of Insurance Regulation)

TALLAHASSEE, FL, November 23, 2016 – The Federal Emergency Management Agency (FEMA) has granted an additional 30-day extension for National Flood Insurance Program (NFIP) policyholders to file claims associated with Hurricane Hermine and an additional 60-day extension to file claims associated with Hurricane Matthew. Typically, NFIP policyholders have 60 days to file a “Proof of…