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Message
Louisiana losing Insurance Carrier vs Florida
Posted on 12/9/22 at 4:20 pm
Posted on 12/9/22 at 4:20 pm
UPC officially announced not renewing in policies in 2023 and leaving the state.
Meanwhile in Florida special session announced to improve insurance environment in Florida: https://www.mynews13.com/fl/orlando/news/2022/12/06/florida-legislators-to-hold-special-session-on-property-insurance-next-week
Our Insurance Commissioner fiddles while insurance burns to the ground in La.
Meanwhile in Florida special session announced to improve insurance environment in Florida: https://www.mynews13.com/fl/orlando/news/2022/12/06/florida-legislators-to-hold-special-session-on-property-insurance-next-week
quote:
the goals, among others, are to produce legislation that would:
“
-Reduce the cost of litigation regarding property insurance claims.
-Foster the availability of reinsurance for property insurance.
-Improve claims handling practices in property insurance.
-Modify deadlines for notices of property insurance losses and limit the assignment of benefits under property insurance policies.
-Prescribe property insurance requirements regarding alternate dispute processes, coverage options and agent practices.”
Our Insurance Commissioner fiddles while insurance burns to the ground in La.
11
Posted on 12/9/22 at 4:22 pm to Zephyrius
florida already had a special session this year to address insane homeowner's insurance rates, and the legislature accomplished next to nothing. so be patient before turning this into a god-emperor desantis circle jerk.
eta: "reduce cost of litigation" = we're going to make it harder to sue your insurer when they frick you in the mouth.
eta: "reduce cost of litigation" = we're going to make it harder to sue your insurer when they frick you in the mouth.
This post was edited on 12/9/22 at 4:24 pm
Posted on 12/9/22 at 4:24 pm to Zephyrius
quote:
-Reduce the cost of litigation regarding property insurance claims.
That's pretty vague.
Posted on 12/9/22 at 4:25 pm to Monsieur le Duc
quote:
we're going to make it harder to sue your insurer when they frick you in the mouth.
So Tort Reform
Posted on 12/9/22 at 4:26 pm to Monsieur le Duc
we found the atty
Posted on 12/9/22 at 4:27 pm to Zephyrius
quote:
UPC officially announced not renewing in policies in 2023 and leaving the state.
They're not renewing policies in Germany either
LINK
ETA: they're non-renewing all their policies in LA, TX and FL. Its not just an LA thing. Half the companies in LA that ended up insolvent after Ida also wrote in Florida and/or were HQ'd there
This post was edited on 12/9/22 at 4:35 pm
Posted on 12/9/22 at 4:27 pm to Zephyrius
quote:
Reduce the cost of litigation regarding property insurance claims.
i.e. reduce the amount insurers will have to pay and limit rights of insureds.
Posted on 12/9/22 at 4:28 pm to Lakeboy7
quote:
Tort Reform
Tort reform in Louisiana drafted and passed by plaintiff lawyers.
Posted on 12/9/22 at 4:30 pm to Monsieur le Duc
quote:If anyone in the Insurance equation is getting “fricked in the mouth” in Louisiana, the dick belongs to fellows named Morris and Gordon.
eta: "reduce cost of litigation" = we're going to make it harder to sue your insurer when they frick you in the mouth.
Posted on 12/9/22 at 4:32 pm to Motorboat
quote:Eh, Florida has some stuff screwy with their legal system when it comes to insurance. Not sure exactly what frickery they have, but the state of Florida is responsible for around 8% of the nation's yearly home insurance claims on average, but roughly 75% of the lawsuits related to those claims
i.e. reduce the amount insurers will have to pay and limit rights of insureds.
This post was edited on 12/9/22 at 4:33 pm
Posted on 12/9/22 at 4:36 pm to Zephyrius
quote:
we found the atty
never chased an ambulance (or a defective roof) in my life baw
Posted on 12/9/22 at 4:37 pm to Monsieur le Duc
quote:
Monsieur le Duc
I’m afraid you’re out of your element with this convo.
FL has like 8% of all homeowners ins policies in America, but 83% of all homeowners litigation due to “assignment of benefits”, which is basically:
You have a claim. Assign benefits to contractor. He hires law firm and squeezes every penny out of your policy/carrier.
They are working to rectify that, as the practice has directly led to several bankruptcies. It’ll take 18 months to see progress it’s expected.
Posted on 12/9/22 at 4:39 pm to Tiger Prawn
quote:
Florida has some stuff screwy with their legal system when it comes to insurance. Not sure exactly what frickery they have,
Mostly to do with "Assignment of Benefits" which allows contractors to sue if the carrier doesn't approve their bloated estimate
Posted on 12/9/22 at 5:00 pm to Zephyrius
I just won a case against State Farm on a roof storm damage claim. It took me 18 months to get my claim paid. It sucked. I hate SF with a burning passion.
In Florida, the insurance company denies everything and forces the customer to lawyer up. It sucks.
In Florida, the insurance company denies everything and forces the customer to lawyer up. It sucks.
Posted on 12/9/22 at 5:05 pm to Zephyrius
I have UPC so I’ll have to shop around now.
Posted on 12/9/22 at 5:08 pm to Zephyrius
Everybody hates lawyers until it's their turn to get cornholed by an insurance company. Then they're the first hypocrites to run to lawyer up.
Posted on 12/9/22 at 5:09 pm to LSUwag
As someone who’s experienced the claims process in both states for the same thing after storms.
It’s a toss up. Louisiana was actually (shockingly) easier to deal with for the most part because of assigned benefits as mentioned previously.
Less legwork in Florida for me but quicker resolution in Louisiana.
I’d prefer to do the legwork if I’m getting it taken care of months to almost a year sooner.
It’s a toss up. Louisiana was actually (shockingly) easier to deal with for the most part because of assigned benefits as mentioned previously.
Less legwork in Florida for me but quicker resolution in Louisiana.
I’d prefer to do the legwork if I’m getting it taken care of months to almost a year sooner.
Posted on 12/9/22 at 5:09 pm to DevilDagNS
quote:
Tort reform in Louisiana drafted and passed by plaintiff lawyers
no. sorry. the LABI legislators were behind all that.
Posted on 12/9/22 at 5:42 pm to Tiger Prawn
I was in FL recently and so much of their attorney advertising revolves around “wins”
As in we won 2M, we won 500K, we won 100 cases last year.
Like it was the lottery or a football game.
As in we won 2M, we won 500K, we won 100 cases last year.
Like it was the lottery or a football game.
Posted on 12/9/22 at 5:42 pm to Zephyrius
Just because the Florida Legislature says it has the goals, it doesn’t mean they will pass. So should Donelon somehow call a special session(can’t happen) while Bell fiddles? I figured since you are running for Commissioner, you would understand how government works, Tim
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