Several years back, the American Consumer Institute conducted a survey and found that 80% of North Carolina drivers would oppose any plan that to make good drivers pay more so that risky drivers could pay less. That is not surprising, considering better drivers tend to have fewer accidents and violations, making them less risky and […]
insurance
Economic Standard: The Need to Reform the National Flood Insurance Program
For years, the National Flood Insurance Program (NFIP), which maintains a near-monopoly over the flood insurance market in the U.S. and covers more than 5 million properties nationwide, has been drowning in red ink. Without significant reforms, it will only get worse. The NFIP, which is overseen by the Federal Emergency Management Agency (FEMA), was […]
As Natural Disasters Become More Frequent, Mitigation is Critical
The federal government has been slow to adapt to the realities of climate change. Disaster management programs and policies designed a half-century ago are proving wholly inadequate for the challenges we face today — and those we know are coming. You can read this opinion piece in The Economic Standard.
COVID-19 Makes Hurricane Preparation More Urgent
2020 has been an undeniably tough year already, and the hurricane season is projected to make it even tougher for communities along America’s eastern coast. Up to six major hurricanes are predicted, rising from an average of three, between the start of June though the end of November. Against the backdrop of an economy in […]
Legal Theatrics and Florida’s Bad Faith Laws
Legal Theatrics and Florida’s Bad Faith Laws Florida’s “Bad Faith” laws applying to Insurance companies have created a shameful mockery of justice. Bad Faith laws were originally intended to make legal representation available to people with limited funds. There are two kinds of bad faith claims. Insured people may have a first-party bad faith claim […]
Florida’s Third-Party Bad Faith Lawsuits
In Florida’s current justice system, anyone who feels that an insurance company has caused an unfair settlement of a claim can seek restitution in court. Unless they were parties to the original policy (a contract), they must wait until there has been a verdict or settlement in the original case. If an insurer fails to […]
The Economic Standard: Florida Bill Addresses “Sue and Settle” Bad Faith Claims
A bill (SB 924) was introduced in the Florida Senate relating to third-party bad faith actions against insurers. SB 924 is a successor to a bill that was allowed to die last year. The bill is an attempt to quell ridiculous damage awards for so-called “bad faith” actions against insurers. Until the bill is enacted, […]
Waco Tribune Herald: Government Loses Billiions Coddling Coastal Elites
If experts are to be believed, climate change is set to reshape America’s physical geography through rising sea levels and increasingly wild weather. Despite the risks, many federal programs are being used to protect some of America’s wealthiest seaside communities. Rather than forcing taxpayers to bankroll their beach lifestyle, the Federal Emergency Management Agency should […]
Inside Sources: It Is Time to Fix the Federal Flood Insurance Program
Better mapping and pricing at risk is paramount, and spreading that risk to private insurers is necessary to cut this wasteful federal spending. It’s time for Congress to stop kicking the can down the road and fix the problem. You can read this op-ed in Inside Sources. How the Rich are Using Federal Money to […]
Orlando Sentinel: Florida Insurance Rules are Punishing Consumers
Florida state insurance law has led to increased insurance rates for consumers with little or no benefit to them. The current Assignment of Benefits (AOB) rules have resulted in an extremely unlevel playing field involving on one side contractors and lawyers, and on the other side consumers and insurance companies. This has resulted in consumers […]