Last week, I discussed the tragic sinkhole that took a man’s life in Seffner, Florida. Since my last post, another sinkhole manifested itself less than two miles from where Jeff Bush lost his life. A few days later, Mark Mihal, a mortgage broker from the St. Louis suburb of Creve Coeur, had a sinkhole collapse … Continue Reading
It is has been exactly one week since the tragic sinkhole event that took a man’s life on February 28, 2013. The national spotlight again shines on Florida’s sinkhole crisis. I want to first send my condolences to the victim’s family. I hope his family finds peace and much needed support. After a tragedy like … Continue Reading
Last week I discussed a trial court order issued in Hernando County, Florida, requiring State Farm to tender the money awarded to its insured through the appraisal process for a sinkhole claim. This week, I want to make policyholders aware that a carrier’s refusal to pay the appraisal award may lead to bad faith damages.… Continue Reading
Many insurance policies contain an appraisal provision. If you read our blog on a regular basis, you understand that either party may demand appraisal when a dispute over the amount of loss exists. Since the Florida Legislature enacted the neutral evaluation process found in Florida Statute 627.7074, most policies replace the appraisal provision with neutral … Continue Reading
An unlikely source has just launched a new comprehensive database of confirmed sinkholes and subsidence events in Florida. This new research tool was created by FloodInsights, a national provider of flood-zone determinations for real estate. This Florida sinkhole report service shows the locations of more than 15,000 sinkholes and subsidence events across the state.… Continue Reading
The sinkhole epidemic in Florida is not an easy problem to solve. Florida’s Hernando and Pasco counties suffer more from this peril than any other counties in the country. The peril of sinkhole loss has its own statutes and has its own endorsement in most insurance policies. Below is a common sinkhole endorsement.… Continue Reading
I wanted to make sure you saw a feature published this week by the Sunshine State News. The piece is called the Soapbox, and it bills itself as a lively debate among political opinion leaders across the state. This week, the topic of discussion was Citizens rates, and I was asked to participate along side … Continue Reading
Florida’s landscape has a great propensity for sinkhole activity, which causes extensive damage to policyholders’ property. The Florida Legislature has passed many laws regulating the adjustment and remediation of sinkhole claims.… Continue Reading
It was 1992, the average price for a new home was approximately $122,500.00, Nirvana was topping the charts, and Jay Leno was taking over for Johnny Carson. The pop culture buzz surrounded the separation of Prince Charles and Princess Diana. Hurricane Andrew would hit the coast of Florida in August and cause a recording breaking … Continue Reading
In my November 4, 2011, post titled “Trying to Change the Past: Are the New Sinkhole Laws Retroactive?” I mentioned the sinkhole insurance changes that took affect on May 17, 2011. One of the most detrimental changes made by the Legislature was changing the definition of “structural damage.”… Continue Reading
On December 29, 2011, many policyholders in Allentown, Pennsylvania, were required to evacuate their homes due to a large sinkhole that suddenly opened up in front of their street. This sinkhole is also a risk to a nearby cemetery, threatening hundreds of graves.… Continue Reading
Insurers and their policyholders are more frequently clashing over sinkhole claims, and the Florida Legislature seems to be weighing in on the insurers’ side. In this case, the policyholder won; his insurer paid the policy limits after a Civil Remedy Notice, and his claim for damages caused by the insurer’s lack of good faith in … Continue Reading
Many, if not all, policyholders’ advocates are aware of the recent legislative changes to Florida’s sinkhole statutes. One of our greatest concerns is the definitional change of the term “structural damage” and whether this change can be applied retroactively. Chip Merlin’s July 7, 2011, post highlighted a recent circuit court’s decision finding the new law’s … Continue Reading
I wanted to take a moment to thank all who participated in the movement against Citizens’ proposed rate hikes. All of your hard work advocating on behalf of policyholders across the state truly made a difference. Thanks to you, Floridians were saved from one of the largest insurance rate hikes this state has ever seen. You should … Continue Reading
Floridians won a great victory on Tuesday. Against the wishes of powerful legislators in Tallahassee and the exceptionally influential insurance lobby, Florida Insurance Commissioner Kevin McCarty struck down most of Citizens Property Insurance Corporation’s proposed 447% sinkhole insurance rate hikes.… Continue Reading
At roughly 3:30 p.m. yesterday, hundreds of folks from Pasco and Hernando County descended on downtown Tampa for one purpose. They were fighting for their financial future; they were fighting to keep their homes.… Continue Reading
Florida’s new Insurance Consumer Advocate, Robin Smith Westcott, emailed a press release to the media highlighting her attendance at our Policyholders of Florida rally in Tampa, where we protested Citizens’ massive proposed sinkhole coverage rate hikes. After this rally, when Westcott heard firsthand from policyholders, she accepted our argument that 2000% rate hikes just don’t … Continue Reading
Tuesday afternoon, I joined 250 fellow Floridians in the bright sunshine protesting against extraordinary rate hikes allowed by Florida’s most recent insurance legislation. Here is a picture of me with Florida Representative Richard Corcoran at the protest:… Continue Reading
Scott Johnson, Executive Director of the Florida Association of Insurance Agents, has called me out for allegedly being on the wrong side of an insurance issue. In his post, CITIZENS SINKHOLES…Yet Another Look!, he stated in part: And so I’ve made overtures to my friend Chip Merlin, the founder of the Florida Association of Public Insurance … Continue Reading
On April 19, 2011, I wrote a blog asking Chief Financial Officer Jeff Atwater to take a stand on Senate Bill 408. Unfortunately, we didn’t hear much from CFO Atwater’s office during the debate on 408. In fact, the little we did hear appeared to be regurgitation of industry talking points about “fraud” and “cost … Continue Reading
The Bradenton Times recently reported that skyrocketing insurance rates may be the result of a cozy relationship between Florida’s legislators, governing officials and the insurance industry. In Which Citizens Are They Working For?, the article concluded: Frustrated consumers are baffled by skyrocketing costs across so-called regulated industries that continue to grossly outpace flat wages and … Continue Reading
It appears that insurance consumers are about to feel the first results of Senate Bill 408. News outlets are reporting that sinkhole insurance rates will skyrocket if Citizens Property Insurance Corporation rate hikes are approved.… Continue Reading
Following the string of recent rulings I noted in Sinkhole Neutral Evaluation Unconstitutional and 2006 Sinkhole Statute Unconstitutional, yet another Florida trial court judge has found the neutral evaluation statute unconstitutional, this time Circuit Judge Martha Cook.… Continue Reading
