Citizens’ Rate Hike Could Stabilize Florida Insurance Market

Florida’s insurance market is in dire need of reform. In a recent state legislative committee meeting, Florida Insurance Commissioner David Altmaier describes Florida’s insurance market as being unstable and unsustainable. Here’s why: While Citizens Property Insurance was intended to be only a “last resort” insurer for homeowners who could not get coverage from private insurers, the struggling […]

Pensacola Journal News: Hats Off to Citizens, but more Reforms Needed

What a difference a few years can make. Recent changes to insurance public policies have left homeowners better protected and given the state greater financial stability. Yet, there is still room for improvements, including changes that could dramatically reduce premiums for consumers. Over a decade ago, Florida property insurance market could have been called dysfunctional.  […]

Naples Daily News: A Reminder of Hurricane Wilma

In the early hours of October 24, 2005, Category 3 Hurricane Wilma came barreling into Collier County with winds up to 125 miles per hour. Ten years later, it’s important to look back at Wilma as a lesson in physical and financial preparation. As Wilma formed between Cuba and Mexico and strengthened into a major […]

Preparing for the Storm

While there is no preventative measure to stop a hurricane from reaching Florida, preparation is paramount and it requires going beyond buying generators and stocking up on batteries, bread and water. It requires financial preparation, which is something that Florida leadership has been focused on in recent years. In March, Citizens Property Insurance Corporation, the […]

Reinsurance: Rational Move for Cat Fund and Florida

The Florida Cabinet made the right decision by authorizing the Florida Hurricane Catastrophe Fund (Cat Fund, a government entity) to buy $1 billion of reinsurance as part of its $17 billion in claims-paying resources. The $1 billion of reinsurance was bought at modest cost and it will spread the cost of any calamity beyond Florida’s […]

Citizens insurance subsidy should stay in Florida

What do the Principality of Monaco, the Grand Duchy of Luxembourg and the Principality of Liechtenstein have in common? Royal monarchies? Majestic wealth? One thing in common is that some of these countries’ residents own vacation homes here in Florida, and these homes are being subsidized by Citizens Property Insurance Corporation, a state-run homeowners insurance […]

All in the Public Interest: Part 2 – Insurance Regulation

The recent and ongoing debacle with Obamacare is not the first example of the government acting in the public’s interest, and it is not the first example of government failure, as we showed in our last article on the unintended consequences of regulations.  When government seeks to provide goods that are already produced privately, it […]

Daytona Beach News Journal Sites ACI Research on Florida Insurance Affordability

Chris Graham wrote an article for the Daytona Beach News Journal that heavily sites ACI’s work.  The piece discusses how the state’s program to help Floridian insurance homeowners actually works to subsidize those living in other states and out of the country.  The article can be read and downloaded here.

Miami Herald and Tampa Bay Times Articles: Discuss ACI’s Independent Research and Data

A Miami Herald and Tampa Times article written by Mary Ellen Klas, “Report: Citizens Insures Thousands of Out-of State Policyholders,” discusses research and data from the American Consumer Institute Center for Citizen Research (ACI) that finds Floridians are subsidizing homeowner’s insurance for out-of-state and foreign owners.  The article quotes Steve Pociask, president of ACI, and the […]

Stronger Safer Florida Cites ACI Insurance Data

FOR IMMEDIATE RELEASE                                                            September 10, 2013                      Contact: Melissa Richman [email protected]                                                                                         FLORIDIANS STILL SUBSIDIZING UPRECEDENTED NUMBER OF OUT-OF-STATE CITIZENS PROPERTY INSURANCE CORP. POLICYHOLDERS Tallahassee, Fla. – Now in the most active part of the Atlantic Hurricane Season, and today being the U.S. National Hurricane Center’s estimated statistical peak of the season, the Stronger Safer Florida Coalition […]