It took more than four months, but Fannie Mae and Freddie Mac have agreed to accept an innovative but temporary solution to Florida’s property insurer rating predicament. The mortgage-buying giants on Wednesday sent letters to primary mortgage lenders, notifying them …
Very few insurance companies showed up this month to talk about the future of the much-debated, 90-year-old Federal Home Loan Bank System, despite the fact that the system lends heavily to many large insurers at low interest rates, for a …
A federal judge has dismissed a lawsuit against United Property & Casualty Insurance Co. and its adjusters, a closely watched legal action that charged the insurer had violated anti-racketeering laws to systematically deny assignment-of-benefits claims from Hurricane Irma. “We’re very …
The Florida Division of Workers’ Compensation appears to be intent on pushing the ball across the goal line on a long-awaited revision to hospital reimbursement rules, despite concern from insurers that some rates are still out of bounds. “My goal …
Claim Was Settled, But Insurer Attorneys Revealed Mediation Info, Claimants’ Lawyer Says An appeals court cannot be used to prohibit a lower court’s decisions, except through the normal appeal process, the Florida Supreme Court decided Thursday in a case that …
United Property & Casualty Insurance Co., facing heavy losses, in July put out feelers for a potential sale or merger with another carrier, after a ratings downgrade and a substantial reorganization plan. But the firm’s holding company announced Wednesday that …
Thanks to the mounting number of insolvencies of Florida property insurers in the last two years, the Florida Insurance Guaranty Association will have to borrow $150 million and extend a surcharge on policies through 2023. The FIGA Board of Directors …
The Georgia insurance commissioner is publicly shaming one of the country’s largest auto insurers after the carrier announced an average 25% rate increase in the state. “I am angry and disappointed that Allstate has chosen to exploit a loophole in …
The owners of one of the oldest insurance agencies in Texas must have felt pretty surprised when they were named in a federal lawsuit brought by an AIG company, alleging the agency was part of an elaborate fraud that forged …
Just two weeks after the Demotech financial rating firm set off a firestorm of controversy by warning that it could soon downgrade as many as 17 Florida property insurers – then promised to hold off – the firm has now …