FAIR supports FHA’s PACE* guidance that builds community resilience

Fort Lauderdale, FL – As an organization that advocates strongly for mitigation and energy savings programs, the Florida Association for Insurance Reform (FAIR) welcomes the Federal Housing Administration’s (FHA) announcement of guidance for Property Assessed Clean Energy (PACE) programs. The broad-reaching initiative opens the door for millions of homeowners in Florida and countrywide to finance…

Consumer input proposed for Insurance Commissioner replacement process

Fort Lauderdale, FL. January 20, 2016: Florida Insurance Commissioner Kevin M. McCarty’s resignation presents an opportunity for Floridians to weigh in on the replacement process for this critical position. Since the Florida Office of Insurance Regulation (FLOIR) was created in 2003, McCarty has served as its only appointed Insurance Commissioner. Commissioner McCarty was honored last…

Citizens seeks rate hike over water claims (News Services Florida)

State-backed Citizens Property Insurance is looking to boost premiums an average of 6.8 percent statewide as water-damage claims, particularly in South Florida, continue to surge. The recommendation will go before Citizens’ Actuarial and Underwriting Committee on Tuesday and is scheduled to go before the insurer’s Board of Governors on Wednesday. It follows a more-modest 1.8…

FAIR Presents Wind and Water Mitigation Policy Recommendations at the Florida Insurance Consumer Advocate’s “Troubled Waters” Forum in Boca Raton (Press Release)

Fort Lauderdale, FL – The Florida Association for Insurance Reform (FAIR) recommends several potential solutions to mitigate recent rate hikes that have stemmed from increases in the severity and frequency of water claims. Paul Handerhan, FAIR’s Senior Vice President of Public Policy, was speaking at the “Troubled Waters” forum in Boca Raton, organized by Sha’Ron…

State flags insurer’s proposed assignment of benefits restrictions (Sun Sentinel)

One of South Florida’s largest property insurance companies has been rebuffed by state insurance regulators for seeking Assignment of Benefits restrictions that were disapproved two years ago. Clearwater-based Heritage Property & Casualty, which is seeking a 14.9 percent rate increase this year, in April sought to require a mortgage lender’s approval before a policyholder can…