Update on Florida Insurance CatClaim Insurance Premium Increases.

On November 24, 2006, I presented evidence to the Board of Governors of the Florida Citizens Property Insurance Corporation to express my opinion on a new model for Catastrophe Claims. The new model would change the existing Computer Model based on input such as Hurricane Damage since time began, and it would cause massive increases in insurance premiums, over and above increases already required by the Computer Model, ranging from a statewide average of an additional 56 percent to 1,263 percent in some Florida Counties.

The new model relies on opinions instead. The effects on  Florida's economy would be enormous. Businesses facing high insurance premiums for example face relocating to areas least affected by Hurricanes, which may well affect businesses -- and people with jobs -- relocating outside of  Florida. The evidence I presented is input into my blog (see my post on December 3, 2006), linked to my web site.   

Based on the effects on Florida's economy, the Citizens' Board of Governors voted at its December 7, 2006 meeting to allow the Florida Legislature time to consider such insurance premium increases in the Special Session of the Florida Legislature in January.

      See, regarding the Citizens' Board of Governors December 7, 2006 meeting, for example, Tom Zucco, "Citizens Rate Hike is Put on Hold" (St. Pete Times, Friday, December 8, 2006), and regarding the issues confronting the Special Legislative Session in January, 2007, see for example, Jason Garcia, "Chasm About Citizens Remains/Lawmakers Volley Ideas on What to Do, Ahead of Next Month's Session on the Insurance Crisis" (Orlando Sentinel, Thursday, December 7, 2006).   

      The fact that you are reading this Blog and in particular this post, reflects your interest in Insurance particularly for Catastrophe Claims, as well as the interest of other persons with the same problem.  Your comments would be of great help toward the goal of getting the legislation we need.

REMINDER:  THE CONTENTS OF THIS BLOG DO NOT MAKE AN ATTORNEY-CLIENT RELATIONSHIP.  ALWAYS CONSULT THE CASES AND LAWS OF EACH PARTICULAR JURISDICTION AND AN ATTORNEY FAMILIAR WITH THE PARTICULAR INSURANCE ISSUE IN THAT JURISDICTION, WHENEVER YOU TRY TO ADDRESS OR RESOLVE ANY LEGAL QUESTION.