Barry Gilway

Lawmakers OK property insurance overhaul

Lawmakers OK property insurance overhaul

After several years and several iterations, legislation to curb rising property insurance costs and stop the alleged abuse of the Assignment of Benefits (AOB) system passed both chambers of the Florida Legislature April 24. Sponsored by state Sen. Doug Broxson, whose district includes Santa Rosa County, the legislation puts new regulations on AOB litigation, which […]

Irma leaves Citizens Insurance with policy bloat

Irma leaves Citizens Insurance with policy bloat

For Citizens Property Insurance, the ultimate goal is to go out of business. The state-run Florida property insurance provider was created to offer an insurance option for residential and commercial properties that could not secure insurance through the private marketplace. When the insurance market is doing well, property owners are moved off Citizens and on […]

Citizens insurance cleared for rate increases

Citizens insurance cleared for rate increases

After Hurricane Irma delayed any decisions, the Florida Office of Insurance Regulation (FLOIR) decided Dec. 6 to approve an increase in rates across all policy types for Citizens Property Insurance. The average rate increase across the board amounts to roughly 6.8 percent. Citizens is a state-run program to help insure those who cannot find coverage […]

Property insurance on the rise, again

Property insurance on the rise, again

Like deja vu, property insurance rates could be on the rise yet again this year as Citizens Property Insurance has filed to raise rates for a variety of policy types across the state. The proposed changes would amount to an average 5.2 percent overall average increase for nearly 250,000 policyholders across the state. Local State […]