News
After devastating damage, Naples condo looks for flood protection
13+ hour, 19+ min ago (1112+ words) Key takeaway: As buildings, old and new, look for resiliency options, the Allegro condominium building in Naples decided to install an AquaFence to protect against flooding. Core challenge: Naples city officials were initially reluctant to grant approval, unsure of the…...
DeSantis says Florida Citizens insurance rates to fall as much as 10%
1+ mon, 2+ hour ago (380+ words) Most Florida homeowners with Citizens Property Insurance Corp. policies are set to see a nearly 10% reduction in their annual rates when they go to renew in the spring. Gov. Ron DeSantis and the Florida Office of Insurance Regulation say in…...
Report: Severe weather, flooding puts billions in home values at risk in region
5+ mon, 1+ week ago (534+ words) Trillions of dollars in home values are at risk from severe weather, with the majority of homes in Southwest Florida and a near majority in the Tampa area facing the possibility of heavy damage from flooding alone. According to a…...
Florida regulators levy $2.07 million in fines against eight insurers
5+ mon, 1+ week ago (460+ words) Florida's Office of Insurance Regulation has fined eight property casualty companies, including three local ones, more than $2 million for the firms' handling of claims, and more fines could be on the way. The fines come after examinations of the companies…...
St. Petersburg insurer could take on 32,000 Citizens policies in the fall
6+ mon, 3+ week ago (243+ words) Mangrove Property Insurance Co. could assume up to an additional 32,000 Citizens Property Insurance Corp. policies in the final quarter of this year, adding to the 50,000 it has already taken on. The assumption of the latest batch of policies would happen…...
St. Pete insurance firm takes on 20,000 Citizen policies
7+ mon, 2+ week ago (346+ words) Mangrove Property Insurance Co. has assumed about 20,000 Citizens Property Insurance Corp. policies, bringing its total haul from the state-run company to about 50,000 this year. The assumption of the latest batch of policies was effective June 17. The St. Petersburg company made…...
St. Pete home insurer, behind $30M in capital, starts selling policies
8+ mon, 1+ day ago (309+ words) Patriot Select Property and Casualty Insurance Co. has begun selling homeowner insurance policies through Florida independent agents. The just formed St. Petersburg insurer, which is in the process of assuming policies from Citizens Property Insurance Corp., says in a statement…...
Geico to open Tampa office, create 1,000 jobs
10+ mon, 2+ week ago (289+ words) Geico, an acronym for Government Employees Insurance Company, was founded in Maryland in 1936 and has $80 billion in assets serving all 50 states. In addition to auto insurance, the firm also offers ... Geico to open Tampa office, create 1,000 jobs A longtime insurance…...
St. Petersburg insurance firm to assume thousands of homeowners policies
10+ mon, 3+ week ago (222+ words) Mangrove Property Insurance is poised to assume its second round of policies from Citizens Property Insurance, Florida's insurer of last resort. St. Petersburg insurance firm to assume thousands of homeowners policies After being approved by the Florida Office of Insurance…...