Insurance potpourri

25 Years Later…What If an Andrew-Type Storm Hit Florida Today?

 - 8/28/2017

Though Florida hasn’t suffered a category 5 storm since Hurricane Andrew hit the north Miami area on Aug. 24 1992, the risk of such a storm has not gone away or even declined. In fact, the state’s risk of destruction may be even greater today.

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25 Years Later: How Florida’s Insurance Industry Has Changed Since Hurricane Andrew

 - 8/24/2017

Andrew’s Impact on the Industry

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25 Years Later: How Florida’s Insurance Industry Has Changed Since Hurricane Andrew

 - 8/24/2017

Andrew’s Impact on the Industry

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Wells: AOB a growing problem for Florida families

 - 4/6/2017

Florida homeowners need to start taking action regarding an escalating problem that will lead to increases in their insurance premiums in the near future.

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New hurricane hunter base nears completion in Lakeland

 - 3/15/2017

LAKELAND, Fla. (AP) - Officials say they're on schedule to open the new bade for the U.S. goverment's "hurricane hunter" aircraft before the Atlantic hurricane season begins.

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 - 3/15/2017

Accorning to a survey conducted by The Hartford, 1 in 8 Americans have experienced a home fire.

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Concerns about hurricane preparedness as three systems loom in the tropics

 - 8/23/2016

LAKE WORTH, Fl. (CBS12) — As three systems are brewing in the tropics, state officials are concerned more than one million Florida newcomers are unprepared for storm season.

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Is a Category 6 Hurricane Possible?

 - 7/29/2016

The Saffir-Simpson Hurricane Wind Scale currently runs from Category 1 through Category 5, and Category 5 is classified as 157-plus mph. But how far above 157 mph could the winds go while still being considered Category 5 wind speeds?

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New technology in storm forecasting comes in time for 2016 Atlantic hurricane season

 - 6/3/2016

On the evening of Aug. 12, 2004, Hurricane Charley was barreling northward into the Gulf of Mexico straight at Tampa Bay. More than 800,000 residents here packed up their cars and clogged evacuation routes to avoid a storm that was forecast to hit at Category 3 intensity.

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FPL prepares for 2016 hurricane season

 - 5/13/2016

Hurricane season is right around the corner and Florida Power and Light is preparing its employees for the worst-case scenario.

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Average hurricane season, with total of 13 named storms, predicted for Florida, U.S.

 - 4/18/2016

The year's hurricane season will be near-average, with the formation of 13 named storms, including six hurricanes that could threaten the U.S. coastline or the Caribbean, according to a prediction released Thursday.

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Soaring property insurance rates

 - 4/15/2016

With the 2016 legislative session completed, the Florida Legislature has failed to pass a meaningful solution to the assignment of benefits crisis that is now rapidly spinning out of control.

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Weather Wise: More active hurricane season?

 - 4/8/2016

Will this year’s Atlantic basin hurricane season be more active than last year’s?

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January permits for new homes highest for the month in a decade

 - 2/5/2016

Led by St. Johns County, last month was the busiest January for new single-family building permits since 2006.

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Tornado punctuates days of severe weather

 - 1/29/2016

A rollicking two days of weather punctuated by a tornado that slashed through Palm Beach County on Thursday should taper today as partly cloudy skies turn to sun.

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Sting targeting unlicensed contractors in Clay County results in 9 arrests

 - 1/25/2016

A four-day sting targeting unlicensed contractors in Clay County yielded nine arrests after individuals provided estimates for construction or electrical services when they didn’t have the proper licenses, according to the Sheriff’s Office.

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Did record warm, wet December cause housing slip?

 - 1/22/2016

Are rain and warm temperatures to blame for a new construction dip in the housing market?

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El Niño threatens to turn weather turbulent for Florida

 - 1/18/2016

Turbulent weather is headed this way, with forecasters predicting waves of rain and severe storms over the next three months that could make this winter the most destructive in more than a half century.

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Improvements made since '04 hurricanes

 - 12/23/2015

Stricter standards, better tech should reduce chances of outages.

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Florida’s good fortune continues

 - 12/4/2015

The 2015 Atlantic hurricane season concluded Monday, and for the 10th consecutive year the Sunshine State avoided being hit by a major storm.

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Florida sets record: 10 years without a hurricane

 - 11/30/2015

For the 10th year running, Florida dodged a hurricane, setting a new record, while the rest of the eastern seaboard escaped a hit by a major hurricane.

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Winter is coming, and so is an El Nino pattern in Florida

 - 11/17/2015

Floridians should brace themselves for a wet and wild winter, all thanks to El Nino.

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Winter is coming — and El Niño likely to bring severe weather with it

 - 10/26/2015

The same El Niño blamed for helping create the monster hurricane that hit Mexico on Friday is credited with the lull in hurricanes in the Atlantic Ocean this year. For Florida, it’s time to pay the price.

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Manatee-Sarasota home prices rise as sellers gear up for winter

 - 10/23/2015

Prices were up even as closed sales dropped in September in the existing single family home market in Manatee and Sarasota counties.

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October no time to stop watching for storms

 - 10/15/2015

South Florida breezed through the statistical peak of this year’s hurricane season with nary a scratch and only one mad dash for bottled water when Tropical Storm Erika seemed intent on an August visit.

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Action 9 investigates how emergency contractors can hijack insurance claims

 - 10/5/2015

An Orlando woman claims the restoration company she hired to put her life back together after a flood wrecked her home instead, and she's been living without a kitchen for a year and a half.

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Hurricane Joaquin batters Bahamas as U.S. braces for 'historic' floods

 - 10/2/2015

Regardless of what Joaquin does, an equal concern in the U.S. is a "historic, potentially life-threatening rainfall event expected this weekend" in the Southeast.

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Flooding concerns across South Florida as supermoon arrives

 - 9/28/2015

A rare double celestial occurrence has led to a flood of trouble in several South Florida neighborhoods.

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Tampa Bay home sales still booming, but cooling from earlier this year

 - 9/21/2015

"Home sales in Florida are beginning to moderate, even as inventory gets tighter"

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Troublemaker trough still menacing Florida, depression stutters

 - 9/18/2015

The disturbance that is heading out of Florida has a 40 percent chance of development as it moves into the friendlier waters of the Atlantic, according to National Hurricane Center forecasters

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Tropical Development Possible Across the Atlantic This Week

 - 9/14/2015

Having just passed the peak of the hurricane season in the Atlantic, three tropical waves will be monitored for development this week across the basin.

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Distressed sales of homes around Tampa Bay drop to lowest level in years

 - 9/11/2015

Sales of distressed homes in the Tampa Bay area still exceed the national rate but have plunged to their lowest level in years.

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When will Grace deflate? Maybe sooner than thought

 - 9/8/2015

Tropical Storm Grace is still packing maximum sustained winds of 40 mph and speeding west at 20 mph, but that quick movement may also lead to a quicker demise.

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Atlantic May Yield More Systems as Peak of Hurricane Season Nears Despite El Nino

 - 9/4/2015

While lulls in tropical activity in the Atlantic will continue, a rapid end to the hurricane season in September does not always occur during an El Niño.

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Foreclosure rate falls in South Florida

 - 9/1/2015

In Miami-Dade, the percentage of homes in foreclosure dropped to 3.6 percent in June, down from 3.71 percent in May and 6.29 percent in June 2014, according to a report from property analytics firm CoreLogic.

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Tropical Storm Erika heads for Caribbean, Florida

 - 8/26/2015

"There is growing concern that Erika will threaten Florida Sunday night into Monday"

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Sinkhole opens in Groveland neighborhood; boil water advisory in effect

 - 8/24/2015

A boil water advisory is in effect for some Groveland residents including a school after a large sinkhole opened up late Sunday afternoon

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Danny becomes hurricane with 80-mph winds

 - 8/21/2015

It took awhile, but the first Atlantic hurricane of the year has arrived.

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July home sales top already robust year

 - 8/17/2015

The Orlando housing market has gotten even hotter.

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El Nino strengthens, may gain “super” status

 - 8/14/2015

This year could produce the strongest El Niño weather pattern on record, rivaling the notable 1997 season and possibly reaching the pinnacle title of “super El Niño.”

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Statewide sinkhole map nears completion, officials say

 - 8/10/2015

For two years, a team of sinkhole hunters with the Florida Geological Survey has been scouring the state to create a map of where sinkholes are most likely to form.

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Record rain a 'dress rehearsal' for the big one, say Hillsborough commissioners

 - 8/7/2015

Hillsborough County commissioners asked an important question after the region was drenched by three weeks of record rainfall: Is the county ready for the big one?

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Evacuations Ordered Near Elfers, Florida, as More Heavy Rain, Flooding Swamps Tampa Bay Area

 - 8/3/2015

Yet another round of torrential rain soaked waterlogged western Florida on Monday morning, including parts of the Tampa/St. Petersburg metro area, which flooded roads and prompted evacuations of at least one subdivision.

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Homeowners getting richer as equity fattens

 - 7/31/2015

We’re slowly but surely seeing the market in Southwest Florida change from one that’s investor-driven to one that is more dependent on traditional buyers

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Manatee, Tampa Bay under flood watch through Monday evening

 - 7/27/2015

"Residents living in flood prone areas should take action to protect property," the Weather Service said.

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New home sales, permitting on the rise in Manatee County

 - 7/24/2015

MANATEE -- As home sales in Manatee County hover near an all-time high, new home construction is catching up.

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Apartment construction drives U.S, home building surge in June

 - 7/20/2015

U.S. builders broke ground on apartment complexes last month at the fastest pace in nearly 28 years, as developers anticipate that recent job gains will launch a wave of renters.

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Orlando foreclosures persist despite recovery signs

 - 7/17/2015

Home prices are up 51 percent in five years. And yet the region had one of the nation's highest foreclosure rates so far this year, a new report shows.

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Weather Wise: NWS set for new tropical forecast graphics, info

 - 7/13/2015

The National Weather Service is in the process of improving the way the public gets information about tropical cyclones.

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Lightning season, always fierce in Florida, is proving deadly this year

 - 7/10/2015

A streak of lightning can be as thin as a ruler, carry the heat of the sun and kill in a flash. While fatal strikes remain rare, they are happening at a surprisingly higher rate this lightning season.

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In the Market for a Deal: Polk Among Most Affordable Places to Buy a Home in Florida

 - 7/6/2015

According to data compiled by Florida Realtors, the Lakeland-Winter Haven metropolitan area — which comprises all of Polk County — is among the most affordable places in the state to buy a house, even as median sale prices for single-family homes continue to see year-over-year gains.

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South Florida home prices rise 8.5 percent in April

 - 7/2/2015

South Florida ranked among the nation's best markets for home price increases in April, a new report shows.

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Will Tropical Storm Bill arrive this month?

 - 6/5/2015

Will we see a tropical storm this June?

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Are Brevard residents feeling “hurricane amnesia?”

 - 6/1/2015

With near-historically low levels of tropical cyclone activity predicted for the Atlantic basin, it’s fair to ask: Have people let down their guard again when it comes to hurricane preparedness?

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South Florida housing market still has room to improve

 - 5/29/2015

Although home prices are inching higher on strong demand, South Florida's housing market isn't quite to the level of what mortgage company Freddie Mac considers ideal

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Orlando home prices lag behind Florida cities

 - 5/26/2015

For the first time in years, Orlando's median home prices dropped below the midpoint price for houses in metro areas throughout Florida, a new report shows.

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Will This Season Bring an End to Florida's Decade-Long Hurricane Drought?

 - 5/22/2015

It has been nearly a decade since a hurricane has impacted Florida, a state which has been hit by seven of the 10 most costly and damaging hurricanes in U.S. history. But despite the recent lull, another devastating storm could impact the Sunshine State in the near future.

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Sarasota-Manatee home sales rise by 10.7% in quarter

 - 5/18/2015

Single-family home sales posted double-digit annual gains in Southwest Florida and statewide during the first quarter.

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Buying a home still beats renting

 - 5/15/2015

Should you buy or rent a home? In South Florida, that decision is a no-brainer — for those who plan to stay and have the means, a new report shows.

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Surprise! Early Tropical Storm Ana slogs toward Carolinas

 - 5/11/2015

Beachgoers were warned away, emergency officials kept a watchful eye and at least one graduation ceremony was forced indoors as Tropical Storm Ana plodded toward the Carolinas on Saturday in an early heaping of rough weather weeks ahead of the official start of the Atlantic hurricane season.

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Home prices jump 9.1 percent in March

 - 5/8/2015

Home prices jumped 9.1 percent in March over the year in the Sarasota-Manatee region, again outstripping state and national gains.

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Hurricane center monitors first disturbance of season

 - 5/4/2015

Although the official start of hurricane season is still almost a month away, the first storm might form later this week.

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South Florida sees third-highest annual home price growth in nation

 - 5/1/2015

A strong economy and an influx of new residents meant higher home prices in South Florida over the past year.

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Florida hit by storms in 20 of 27 slow seasons

 - 4/27/2015

The initial hurricane outlook calls for a calm season with only seven named storms this year — but don't exhale yet.

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Home sales, prices rise in Volusia, Flagler

 - 4/24/2015

Sales of existing homes rose sharply in March in both Volusia and Flagler counties, while median prices in both counties also shot up, area Realtors associations reported Wednesday.

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FPL crews prep for hurricane season

 - 4/20/2015

With storm season around the corner, FPL said they are ready for whatever Mother Nature throws at them.

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Fannie Mae economist: Higher wages could boost Florida housing

 - 4/17/2015

Rising wages may lead to more robust housing markets next year in Florida and across the nation.

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Insurance rates in Florida expected to dip slightly this summer

 - 4/13/2015

The price you pay for insurance should go down a little bit this summer. State regulators say rates in Florida should dip 1.5 percent in July.

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Mortgage rates decline

 - 4/10/2015

Average long-term U.S. mortgage rates declined this week, approaching historically low levels with the spring home-buying season underway.

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Millions of Americans have little to no money saved

 - 4/6/2015

Two new studies released this week reveals millions of Americans have no savings set aside, leaving them in serious jeopardy if financial calamity strikes.

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Census report: The Villages is fastest-growing metro area

 - 4/3/2015

For the second consecutive year The Villages is the nation’s fastest growing metropolitan area, the Census Bureau is announcing today.

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Citizens Property Insurance shrinks to record low

 - 3/30/2015

State-run Citizens Property Insurance has shrunk to the fewest number of policies since its creation 10 years ago.

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It's a good time to buy a house, unless you're an investor, study says

 - 3/27/2015

Study says the housing market has faded for investors

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Is South Florida headed toward drought?

 - 3/11/2015

Portions of South Florida may fall under drought conditions in coming months, parched from a rainfall deficit of up to 6 inches since the beginning of the dry season.

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Wilma one of several hurricane anniversaries this year

 - 3/10/2015

This is a big year for hurricane anniversaries, with Wilma in 2005 atop the list. Although 10 years ago, it’s still fresh in the memories of millions of Floridians.

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Home repair insurance claim fraud hammering Florida

 - 3/2/2015

Imagine this: You wake up to find your kitchen flooded from a broken pipe. You frantically call a water extractor who arrives and says, “Don’t worry. Just sign these forms and we’ll handle everything.”

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Weather Wise: Classic conditions brought flurries to Florida

 - 2/4/2015

The conditions were classic. Essentially, wind blowing off the warmer water interacted with a cooler land mass, causing what's essentially "ocean effect" snow. In actuality, the actual process isn't much different than the lake-effect snow often seen in Buffalo, New York, but on a much smaller and more localized scale.

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Citizens dropping more insurance policies

 - 1/16/2015

As regulators approved another round of policy “takeouts” from Citizens Property Insurance Corp. today, the state-backed insurer says it can get smaller than previously thought.

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Ocean-effect snow creates buzz from Jacksonville through coastal Georgia

 - 1/13/2015

Snow-way! Call it a miracle! Snow danced over the streets of Jacksonville Thursday for the first time in five years and tied the record for the day of a trace set 57 years ago.

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Bradenton Herald - Tax relief in 2015: Florida's hurricane tax ends

 - 1/5/2015

Florida hurricane insurance charge ends New Year's Day.

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Underwater mortgages falling as home prices rise

 - 12/24/2014

Widespread home price increases have helped more South Floridians break free of burdensome mortgages, a new report shows.

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New year offers chance to adjust insurance

 - 12/15/2014

Your insurance policies should be on your end-of-the year review checklist.

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Property Casualty 360

 - 1/13/2012

Fla. & Va. Outpace 16 Other States in Building Code Report

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CSC WORLD - In Practice: Insurance

 - 3/1/2010

Unlike most traditional insurance carriers, Florida Peninsula Insurance is a relatively young company writing business for a single, somewhat risky market — Florida homeowners. As the company formed relationships with independent agents across the state and began growing the business, it became apparent that the Boca Raton-based provider needed to invest in new technology to support its agency portal.

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INSURANCENEWSNET.COM - State Farm Florida to Tell Some Policholders They Won't be Renewed

 - 2/1/2010

State Farm Florida will begin sending out notices Feb. 1 to inform some of its more than 810,000 residential property policyholders that they will not be renewed.

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THE MIAMI HERALD - State Farm to begin shedding thousands of homeowner policies

 - 1/29/2010

Starting Monday, homeowners who hold State Farm Insurance of Florida policies will begin receiving letters from the insurer saying their policies won't be renewed. But agents interviewed said relatively few of those policies will likely be in South Florida because State Farm no longer insures many homes here. The company will be dropping 125,000 policies throughout the state as part of a settlement reached with the Office of Insurance Regulation to keep State Farm from abandoning Florida entirely. The company was also granted a 14.8-percent rate increase in the deal. To maintain solvency, the company had argued it needed to dramatically reduce its hurricane exposure in this state.

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INSURANCE JOURNAL - Florida Peninsula Finalizes Acquisition of Edison Insurance

 - 1/27/2010

Florida Peninsula Holdings, LLC, the parent company of Florida Peninsula Insurance Co., reports it has completed its acquisition of Edison Insurance Group, including its two subsidiaries: Edison Insurance Co. and Edison Insurance Underwriters. The previously-announced acquisition includes more than 25,000 Edison homeowners policyholders that will now become part of Florida Peninsula Insurance Co.

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INSURANCENEWSNET.COM - Florida Peninsula Completes Edison Insurance Acquision

 - 1/26/2010

Florida Peninsula Insurance Co. has added about 25,000 policies with the completion of its acquisition of Edison Insurance Group. The insurer's parent company, Florida Peninsula Holdings LLC, said in a statement that the deal includes Edison Insurance Co. and Edison Insurance Underwriters. Florida Peninsula of Boca Raton, Fla., which opened its doors in April 2005, will now have about 140,000 policies.

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SILOBREAKER - Florida Peninsula Completes Edison Insurance Acquisition

 - 1/26/2010

Florida Peninsula Insurance Co. has added about 25,000 policies with the completion of its acquisition of Edison Insurance Group. The insurer's parent company, Florida Peninsula Holdings LLC, said in a statement that the deal includes Edison Insurance Co. and Edison Insurance Underwriters. Florida Peninsula of Boca Raton, Fla., which opened its doors in April 2005, will now have about 140,000 policies.

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PR-USA.NET - Florida Peninsula Insurance Company enters into acquisition agreement with Edison Insurance Company

 - 1/19/2010

Florida Peninsula Holdings, LLC, the parent company of Florida Peninsula Insurance Company, announced today that it has entered into an agreement with and has received Florida Office of Insurance Regulation consent to acquire Edison Insurance Group, including two of its subsidiaries: Edison Insurance Company and Edison Insurance Underwriters.

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INSURANCE JOURNAL - Florida Agents, Consumer Group Sound Alarm Over 'Perilous' Property Market

 - 1/13/2010

Insurance agents, a former insurance commissioner and a consumer advocate have sounded an alarm about the property insurance marketplace in Florida, a market that has seen four insurers get into financial trouble in the past year.

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DAILY BUSINESS REVIEW - Florida Peninsula Holdings acquires Edison Insurance

 - 1/6/2010

Florida Peninsula Holdings, the Boca Raton parent of Florida Peninsula Insurance, said Monday it is acquiring St. Petersburg-based Edison Insurance Group. The deal has been approved by the Florida Office of Insurance Regulation, according to a Florida Peninsula news release. Financial terms were not disclosed. The deal will add more than 25,000 Edison policyholders to Florida Peninsula Insurance’s portfolio. Florida Peninsula has more than 120,000 homeowners, renters and condominium unit policyholders throughout the state.

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THE MIAMI HERALD - Insurance firm acquiring two others

 - 1/5/2010

Florida Peninsula Holdings has won approval from state regulators to acquire Edison Insurance Group, which operates two property insurers with more than 25,000 policies. The policies from Edison Insurance Company and Edison Insurance Underwriters willbecome part of Boca Raton-based Florida Peninsula and remain in force. Edison policyholders will maintain their current independent insurance agents and policy numbers.

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TAMPA BAY BUSINESS JOURNAL - Florida Peninsula buys Edison Insurance

 - 1/5/2010

Florida Peninsula Holdings LLC has an agreement to acquire Edison Insurance Group and two of its subsidiaries — Edison Insurance Co. and Edison Insurance Underwriters. The purchase price was not included in a release announcing the deal. The Florida Office of Insurance Regulation has approved the acquisition, the release said. The acquisition includes more than 25,000 Edison policyholders that now will become part of Florida Peninsula Insurance Co. No changes will be made to their policies and Edison’s customers will continue to work with their existing independent insurance agents, the release said.

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SOUTH FLORIDA BUSINESS JOURNAL - Regulators OK Florida Peninsula purchase

 - 1/5/2010

State insurance regulators have approved Boca Raton-based Florida Peninsula Insurance Co.’s plan to buy St. Petersburg-based Edison Insurance Group and pick up its 25,000 policyholders. The purchase includes subsidiaries Edison Insurance Co. and Edison Insurance Underwriters, according to a statement about the purchase agreement. The purchase price was not disclosed.

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P & C NATIONAL UNDERWRITER - Fla. Peninsula Insurance To Acquire Edison Insurance Group

 - 1/5/2010

Florida Peninsula Insurance Co. said its subsidiary Florida Peninsula Holdings, LLC has entered into an agreement to acquire Edison Insurance Group. Financial terms of the deal were not released. Florida Peninsula, based in Boca Raton, Fla., will also acquire Edison’s two subsidiaries, Edison Insurance Company and Edison Insurance Underwriters. Both companies are primarily writers of homeowners insurance in Florida. Edison is headquartered in St. Petersburg, Fla.

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THE PALM BEACH POST - Boca Raton-based Florida Peninsula to buy St. Petersburg Insurer

 - 1/4/2010

Florida Peninsula Holdings said today that it will buy a St. Petersburg insurer with 25,000 policyholders. Boca Raton-based Florida Peninsula, which owns Florida Peninsula Insurance, said it received permission from the Florida Office of Insurance Regulation to acquire Edison Insurance Group, parent of Edison Insurance Co. and Edison Insurance Underwriters.

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SUN-SENTINEL - Insurers in Boca Raton and St.Petersburg to merge

 - 1/4/2010

Florida Peninsula Holdings, the parent company of Florida Peninsula Insurance Co. in Boca Raton, announced this week that it plans to buy Edison Insurance Group and its subsidiaries. Florida Peninsula officials said the Office of Insurance Regulation approved the acquisition last week and when the sale is complete, their company will grow from about 120,000 residential insurance policies to 145,000.

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ST. PETERSBURG TIMES - St. Petersburg homeowners insurer bought by Florida Peninsula

 - 1/4/2010

St. Petersburg homeowners insurer Edison Insurance Co. is being bought by the larger Florida Peninsula Insurance Co., the companies said Monday. Terms were not disclosed for the deal, which has been approved by the Florida Office of Insurance Regulation. Edison, which was formed in mid 2005, has about 25,000 policyholders who will become part of Boca Raton-based Florida Peninsula. That will give Florida Peninsula more than 120,000 homeowners, renters and condominium unit policyholders.

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SMART BUSINESS - Following Policy

 - 1/1/2010

How Roger L. Desjadon succeeds by providing his employees at Florida Peninsula with a sense of purpose.

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SUN-SENTINEL - Debate starts on property insurance rate deregulation

 - 12/8/2009

Florida lawmakers on Tuesday unveiled legislation that would strip state regulators' ability to reject most property insurance rate hikes. A version of the bill that would have allowed large insurers to essentially charge what they want was passed by the Florida House and Senate this year and vetoed by Gov. Charlie Crist. Rep. Bill Proctor , R-St. Augustine, filed a new version Tuesday for the annual legislative session that starts in March. It would apply to all private property insurers.

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 - 11/1/2009

Insurance carriers and agents alike are feeling the pinch of the economic downturn. Every organization is looking or ways to do more with less, but we cannot lose sight of customer retention and the search for new business. Many agencies spend thousands of dollars on automation, but the agency system is just one piece of the puzzle.

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