As in all states with significant hurricane risks, windstorm coverage is expensive for people in Florida. In an attempt to bring down the costs of this coverage, Florida’s Legislature in the early 1990s established the Florida Hurricane Catastrophe Fund, a massive government-owned reinsurance entity. All private insurers operating in the state are required to buy [...]
Posts by author:
Matthew Glans
While the National Flood Insurance Program remains a flawed entity plagued by debt and mismanagement, simply eliminating it altogether would be disastrous for consumers and the real estate market. New reforms that alleviate some of the NFIP’s problems while giving the government insurer more financial flexibility is a sound intermediate step in fixing the nation’s [...]
Efforts to combat auto insurance fraud in Florida took a positive step forward with the personal injury protection reform bill which recently passed through the state legislature and is now awaiting Gov. Rick Scott’s signature. Auto fraud has been a nagging problem for Florida consumers and insurance companies, as staged accident and unscrupulous doctors and [...]
Access to credit is an essential component of a market system, and the tightening of credit markets in the course of the economic downturn has businesses and entrepreneurs struggling to sustain themselves and grow. Small businesses have suffered the most. Small- and medium-sized businesses are a key engine of the economy, creating between 60% and [...]
Auto insurance fraud is a crime that costs consumers and insurance companies millions of dollars a year in increased costs while directly contributing to higher insurance rates for consumers. In states with no-fault systems, where a person who is injured in an automobile accident recovers damages up to a specific amount from his own insurance [...]
A new proposal that would privatize Maryland’s workers’ compensation fund is currently being considered in the Maryland General Assembly. The proposal, S.B. 745, would transform the state’s Injured Workers’ Insurance Fund quasi-state agency into a private, nonprofit insurance company. This new nonprofit insurance company, Chesapeake Employers’ Insurance Co. would take responsiblity for the policies currently [...]
The Texas Department of Insurance recently approved several homeowners insurance rate increases that were submitted by Allstate Fire and Casualty and Allstate Texas Lloyds. These rate increases, according to Allstate corporate relations spokesperson Kristen Beaman, are necessary due to rising loss costs, which are rising faster than premiums. From Insurance Journal: Homeowner insurance rate hikes [...]
← Previous Entries
