Pressroom

Articles of interest to Florida Keys residents from everywhere

FIRM’s efforts bring Citizen’s windstorm insurance rate freeze

After considering testimony and documents from Fair Insurance Rates in Monroe (FIRM) and comments received from residents of Monroe County, Florida Insurance Commissioner David Altmaier has ordered homeowners windstorm rates for Monroe County to remain at current levels.  Over the last several years rate increases have been around 10% every year and have resulted in…

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Insurance Journal: 29M flood risk properties lie outside floodzone

Insurance Journal is reporting more than 29 million, or 23 percent, of residential and commercial properties in the U.S. are at high or moderate risk of flooding but are outside of designated Special Flood Hazard Areas (SFHA) as identified by the Federal Emergency Management Agency (FEMA), according to data analysis from CoreLogic, a corporation that…

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Citizens: Farewell to 2017 Hurricane Season

The 2017 hurricane season ends quietly this week, but not before causing nearly $6 billion in damage as Hurricane Irma ripped through South Florida and the Florida Keys in September, the first major storm to ravage the state in more than 12 years. As the season comes to a close November 30, Citizens Property Insurance…

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New York Times: A Broke, and Broken, Flood Insurance Program

A November 4, 2017 article in the New York Times outlines major changes needed to the National Flood Insurance Program (NFIP) which is set to expire December 8, 2017.  The article focuses heavily on privatization of the Program, “The private market is anxious, willing and completely able to take everything except the severe repetitive-loss properties,” said…

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Kiplinger: How to shop for flood insurance

If you live in Monroe County, your mortgage company probably requires you to get flood insurance. But even if you aren’t considered to be in a high-risk area, the coverage may be worthwhile. More than 20% of flood claims in the U.S. come from properties outside of high-risk flood zones. The article below from “Kiplinger”…

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BusinessInsurance.com: Trump signs bill forgiving $16 billion NFIP Debt

Gloria Gonzalez reported on Businessinsurance.com that “President Donald Trump signed a $36.5 billion disaster relief bill that will forgive $16 billion in debt owed by the National Flood Insurance Program. The president signed the bill on Thursday after the U.S. Senate adopted it by an 82-17 vote on Tuesday. The U.S. House of Representatives previously…

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Governor Scott activates emergency bridge loan program

Over the weekend, Florida Governor Rick Scott activated the Florida Small Business Emergency Bridge Loan Program to support small businesses impacted by Hurricane Irma. The bridge loan program, managed by the Florida Department of Economic Opportunity (DEO), will provide short-term, interest-free loans to small businesses that experienced physical or economic damage during the storm. The application…

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