With the hurricane season in the rearview mirror, most — if not all — Florida homeowners are wiping sweat from their brow. It is one less threat to their home that they have to worry about. But other homeowners may still be without or past due on their insurance policy.
Commercial insurance providers cover a critical therapy program for children with autism. It’s called applied behavioral analysis and autistic children who go through the program usually experience dramatically positive effects on their condition, bolstering their language and cognitive abilities as well as improving their social interaction and behavioral skills. The program comes at a financial cost though, leaving impoverished families with little chance of sending a child with autism through ABA.
We are finishing up our foray into the magic of movies and their multiple perils. According to movie and insurance industry professionals, few insurance companies provide all the different policies a production would need. It apparently takes a cast of thousands of risk managers to determine what kinds of coverage and what limits are appropriate for any given movie.
Sometimes it feels as if movie credits are longer than the movie. The cast, the best boy, the star’s hairdresser, the director’s assistant, the songs and their performers, all the locations — it is a little overwhelming, and most people walk out well before the last credit rolls.
The awards season is over, and trailers for summer blockbusters are beginning to show up in theaters and on television. This is the time of year when moviegoers lay bets on how many explosions they will see during the previews. The closer we are to Memorial Day, the more destructive the movies seem to be.
Florida has seen its share of disputes over Holocaust-era life insurance claims. The cases stemmed from sales of life insurance policies to individuals of certain ethnic groups — Jews, for the most part — who subsequently died at the hands of the Nazis and their collaborators. When surviving family members contacted them, though, the insurance companies denied the claims.
We are finishing up our discussion of the Florida Legislature’s efforts to revamp Citizens Property Insurance Corp. It seems as if a week hasn’t gone by that the Legislature or a regulatory agency hasn’t put forward one proposal or another. It also seems as if the only thing anyone agrees on is that the state-run insurance company must change if it is to remain viable.
The prospect of a major storm has weighed heavily on Florida’s lawmakers and insurance regulators. After the 2005 hurricane season, a number of companies in the state that offered homeowners insurance closed their doors. Private insurers have been loath to return, and homeowners have been left with one choice: Citizens Property Insurance Corp. The state-run company has grown exponentially over the past few years; the carrier that was supposed to be the last-resort for Floridians now boasts about 1.5 million policyholders.
Lawmakers promised to revamp Citizens Property Insurance Corp., and it looks as if they could make good on that promise this year. Citizens, Florida’s insurer of last resort, is currently allowed to recover a deficit by assessing policyholders — Florida residents — up to 15 percent of premium for each fund that falls behind. If the personal lines account, the commercial lines account and the coastal account all had a deficit, a Floridian could see an assessment of 45 percent of his or her premium.
Florida homeowners have started to dread receiving their homeowners’ insurance bill. One homeowner in Florida was shocked to see that his homeowners’ insurance company increased his total replacement cost value of his home by $57,000 in one year. The homeowners’ insurance value is almost double what it would take to rebuild this two-bedroom, 950 square foot house.
