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Hurricane Matthew insurance claims now worth nearly $550 million

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The number of insurance claims following Hurricane Matthew has now surpassed 91,000, with estimated losses rising to $549 million. The grand total was 91,212, according to data posted Monday morning on the Florida Office of Insurance Regulation’s website. The numbers were good as of late Friday afternoon. Volusia County led in claims, at 26,664. Next came Duval, with 14,860; Brevard with 11,629; and St. Johns with 9,688. Flagler County had 6,161 claims; Clay County had 2,202 and Indian River County…

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ACA boosts Florida’s health insurance rate, but there are problems

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The number of Floridians with health insurance has grown by nearly 760,000 since the Affordable Care Act took effect, in part reflecting an increase of nearly 113 percent in the individual coverage market. The number of uninsured in Florida declined from 3.9 million at the end of 2013 to 3.2 million at the end of 2014, according to U.S. Census Bureau data cited in a report approved Wednesday by the Florida Health Insurance Advisory Board. In other words, Florida’s uninsured…

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Insurance claims begin to mount following Hurricane Matthew

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Hurricane Matthew has generated nearly 5,000 insurance claims involving losses of $21 million, state regulators said Monday. They cautioned the results are preliminary, reflecting just three days of claims data — Friday through Sunday. “As many displaced consumers return to their communities and homes to assess damage and initiate the claims process, these numbers will increase across the state in the days and weeks ahead,” the Florida Office of Insurance Regulation said in a written statement. The office will post updates…

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Citizens Insurance, regulators warn of fraud post-Hurricane Matthew

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Citizens Property Insurance Corp. was quick to warn policyholders against signing away their rights in exchange for quick repairs following Hurricane Matthew. Florida’s insurer of last resort issued a press release Sunday urging policyholders to call the company before entering into assignment of benefits contracts with contractors or other third parties. “Here’s why,” Citizens said. “You may be signing away your rights and be left with unfinished repairs or forced to pay a contractor for repairs not covered by your policy.…

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Regulators approve 14.5 percent workers compensation premium hike

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State regulators Tuesday approved a 14.5 percent average increase in workers’ compensation insurance premiums — less than the 19.6 percent hike sought by an industry council. The new rates take effect Dec. 1. The original rate proposal by the National Council on Compensation Insurance, or NCCI, would have taken effect on Oct. 1. The higher rates apply to new and renewed policies but not to existing coverage, the Florida Office of Insurance Regulation said. NCCI proposed new rates in May…

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Decision near on proposed workers compensation insurance rate hike

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Florida’s business owners will soon find out the fate of a proposed increase of nearly 20 percent in workers compensation insurance rates. “We’re getting very close to being finished with those review and putting these rate filings out into the public, so our business owners and community can respond to that and plan effectively,” state Insurance Commissioner David Altmaier told Gov. Rick Scott and the Florida Cabinet Tuesday. The Florida Office of Insurance Regulation held a public hearing in August on…

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Assessing Hermine: Citizens Insurance pays $90,000 in storm claims

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Florida’s insurer of last resort has paid more than $90,000 in Hurricane Hermine claims. That was the tally as of Friday afternoon, with 618 claims still being processed. “Most of the claims have been filed for the Tampa Bay area — relatively far from where the storm landed,” said Michael Peltier, spokesman for Citizens Property Insurance Corp. Hermine made landfall early the morning of Sept. 2 in the Panhandle. But Tampa Bay absorbed heavy rainfall, generating insurance claims. Pinellas County…

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