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The proposed Florida special session Senate bills 2-D and 4-D have overwhelmingly passed the house floor and will now move to Florida Governor Ron DeSantis for signing. -
Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The legislation aims to keep the homeowners market functional, but more change will be needed long term to make the Sunshine State an attractive place for insurance capital.
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State representatives will vote on the bill on the House floor tomorrow.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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State senators will vote on the bill on the Senate floor tomorrow.
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The figure includes around $17mn of unfavorable reserve re-estimates for prior period events.
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Rising severity, along with rebounding frequency, across personal lines is among the most acute challenges for the coming months.
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The trend of inflated severity has been evident in the Q1 results of personal lines carriers including Kemper, Progressive, Berkshire’s Geico, The Hanover Group and Allstate.
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Simard joins Hippo after 10 years at American Family Enterprise, where he most recently served as associate vice president of property field and catastrophe claims.
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Litigation reform is expected to be a priority in the special session, while Florida Hurricane Catastrophe Fund expansion is also on the cards.
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For the month, motor vehicle insurance costs rose 0.8%, compared to 0.7% in March.
