Ah, Florida. House to sun-washed seashores, Kennedy Area Middle, the woeful Marlins – and some of the pricey tort methods within the nation. A major driver of those prices is Florida’s “project of advantages disaster.” At this time the I.I.I. printed a report documenting what the disaster is, the way it’s spreading and the way… Read More »
Florida’s small P/C insurers have withstood losses from Hurricane Irma and a legal environment that’s dubbed a “judicial hellhole” by the American Tort Reform Association, a recent article in S&P Global Market Intelligence reports. The financial ratings firm Demotech affirmed the financial strength of over 50 companies in late March, a decision found “encouraging” by… Read More »
Florida is unique in that it has no objective bad faith standard, defining it as more than “mere negligence” without calling for a showing of evil intent. As a result, carriers need to watch for common pitfalls to reduce costly bad faith awards. On March 14 Gen Re is offering its clients a webinar called… Read More »