Category Archives: Property Insurance
What to do when your insurer denies your business interruption claim?
Your business interruption policy may entitle you to benefits due to losses and expenses related to the COVID-19 pandemic. A decrease in revenue resulting from government orders to close or operate on a limited basis may qualify you for payment from your insurance carrier. Costs such as rent and loan repayments may also be… Read More »
More days of darkness, heat: Florida hurricane recovery won’t be fast in the time of COVID-19
Source: Miami Herald By: Adriana Brasileiro and Alexis Harris Every year before hurricane season, Florida Power & Light and others on the front lines of disaster response make plans to bring reinforcements from other states to help if a big one hits. In the past, contractors and crews have come from as far away… Read More »
One Year Later … The Climate of AOB After HB 7065
It has been more than one year since The Florida Legislature passed a bill that significantly impacted the assignment of benefits (AOB) industry. The bill took effect July 1, 2019. Roofers, contractors and mitigation companies continue to feel the tremors of the new changes of House Bill 7065. The bill requires that certain language… Read More »
FEMA approves additional $10.3 million for Panama City
Source: Panama City News Herald Panama City is set to receive about $10.3 million in additional FEMA funds for reimbursement of debris removal costs following Hurricane Michael. According to a press release from FEMA, between Oct. 10, 2018 and Nov. 24, 2018, workers removed more than 1.2 million cubic yards of debris from public rights of… Read More »
Hurricane Michael: $1 Billion for Community Recovery Funds
It’s been almost a year and a half since Hurricane Michael took its toll on Florida’s Panhandle, and unfortunately, communities are still dealing with its effects- however, there has been some recent good news for those affected residents. Governor Ron DeSantis announced that there would be $1 billion in aid that will go towards… Read More »
FEMA Releases New Floodplain Maps
FEMA has released new flood maps that has left homeowners with mixed emotions. Some have learned that their homes have gained elevation, while others are feeling uneasy after discovering they have lost it. Bay side homes seem to have gotten better news, while ocean side homes are dealing with updates that are not ideal…. Read More »
Florida Insurers Face Rating Downgrades
The Florida-based home insurance companies are at it again. In a recent Insurance Journal article on the health of the state’s insurance market, more than a third of the domestic insurers are in danger of receiving rating downgrades. They are blaming the continuing claims from the storms of the past few years and skyrocketing… Read More »
Insurers Pay $4.1M in Claims During Recent Hurricane Michael Claims Villages
Source: Insurance Journal Claims villages hosted by the Florida Department of Financial Services since August 2019 have led to the resolution of $4.1 million in insurance claims for nearly 750 residents impacted by Hurricane Michael, according to a statement from DFS. In total, DFS has has hosted seven Hurricane Michael Insurance Villages since the… Read More »
State expects to dole out all Hurricane Michael Recovery Grants by year’s end
Source: www.floridapolitics.comBy: Staff Reports State emergency management officials expect to dole out the entirety of the $25 million Hurricane Michael Recovery Grant Program by the end of the year, expediting rebuilding efforts in the Panhandle. The program, the first of its kind, was created last Session to advance local governments’ recovery projects. The bill… Read More »
Homeowner’s Insurance: What May or May Not Be Covered After a Storm
Wondering about some specifics in regards to homeowner’s insurance and what it covers? It can be a fine line between what is covered and what is not. If trees are ripped out of the ground and other debris is flying around during a storm, there are various factors that affect whether or not insurance… Read More »
