Hurricane activity in Florida has remained low this season, despite a recent non-tropical weather system that brought rainfall amounts to Central Florida similar to those seen during hurricanes, according to the National Weather Service.
Elsewhere, Hurricane Melissa, classified as a Category 5 storm, made landfall in the Caribbean last week but did not reach Florida.
State officials have announced that nearly $1 billion in auto insurance premium credits and rebates will be returned to consumers. The Governor and insurance commissioner stated these funds “would have been going to attorneys’ wallets” as additional auto rate cuts are being filed. This follows legislative reforms and is supported by a new report highlighting the impact of tort reform on the state’s insurance landscape.
William B. Collum, Esq., noted changes following the elimination of assignment of benefits (AOB) contracts in property claims. He explained that previously, contractors would use no-price AOB contracts and sue insurers when claims were denied or underpaid. Under the now-repealed attorneys’ fee statute, he said “the attorneys’ fees demand would dwarf the amount of the inflated…” claim.
The Florida Hurricane Catastrophe Fund (Cat Fund) has proposed an updated rule affecting property insurance companies in preparation for next year’s hurricane season. The Cat Fund recently held a workshop focused on insurer reporting requirements and responsibilities under rule 19-8.029.
Florida’s housing market is showing signs of easing after years of rapid growth. An interactive tracking map is helping residents understand ongoing housing shortages across various regions in the state. In addition, more than 2,800 new homes are set to be developed within what is described as the world’s largest retirement community.
In Destin, Florida, a local story highlights how family pets can provide companionship for seniors. Last month, an 86-year-old woman and her dog Eeyore were reported missing for over an hour during a late-night walk before returning home safely.
