Here's a look back at Insurance Journal & # 39; s most-read stories of 2020 for the Southeast region, based on readership figures:
Florida attorney Scot Strems was suspended by the Florida Supreme Court following an urgent petition from The Florida Bar over allegations that he and his company caused widespread public damage by filing thousands of frivolous allotment lawsuits against state insurance companies.
2.) More than a dozen Florida insurers dealing with rating downgrades
Financial analysis firm Demotech, which assesses more than 40 Florida-based domestic insurance companies, warned the head of Citizens Property Insurance Corp. in January that as many as 18 companies could lower their financial stability ratings due to dangerous financial conditions.
Florida Governor Declares Coronavirus Emergency
As the coronavirus pandemic began to take over the nation in March, Florida Governor Ron DeSantis responded to the impending public health crisis by declaring a state of emergency so that Florida could better raise resources and get outside help to combat the virus.
4.) Florida real estate insurance market is getting closer to the crisis – Part 1
The Florida real estate insurance market is facing many challenges of uncontrolled litigation, catastrophe losses, and rising reinsurance rates, and the industry is responding by significantly increasing rates and reducing capacity.
5.) The Florida Capitol elected to drop nearly 24,000 policies; Regulator to monitor activities
Several years of mounting financial losses and increased costs of reinsurance for storm season 2020 left this Florida insurer no choice but to cancel thousands of policies in May, just weeks before the start of the hurricane season.
6.) North Carolina Farm Bureau insurance to give policyholders a 20% dividend on auto premiums
With people driving less because of the COVID-19 pandemic, many insurers responded by offering rebates to auto insurance policyholders, or in the case of this company, a 20% dividend that brought in about $ 22 million in total savings for policyholders.
7.) Demotech Confirms Ratings of 37 Florida Insurers; Still judging others
After warning at the beginning of the year of the potential for underwriting ratings downgrades, Demotech confirmed all but nine of the 46 Florida-based companies it reviews at the end of March, saying it would continue to review financial information and discussions on the business plan with the insurers had not yet confirmed it.
8.) Construction worker fired, beaten for complaining about drunken boss wins $ 1 million
A North Carolina employee who sued for being attacked and fired over complaints about his supervisor's workplace intoxication was awarded the sum in a case that was eventually heard by a federal appeals court.
9.) Florida Attorney Behind Thousands of Insurers' Lawsuits Violating 14 Bar Rules: Judge
The court-appointed arbitrator charged with overseeing the Scot Strems case advised the Florida Supreme Court in October to suspend him for 24 months followed by a one-year probation after finding that The Florida Bar had proven that Strems had broken the 14 Bar Rules.
10.) Applied Underwriters & # 39; Centauri Files $ 30 Million & # 39; poaching & # 39; suit against Wellington insurance
Florida-based MGA Centauri Specialty Insurance Holdings (CSIH) and Centauri Specialty Managers (CSM), now owned by Applied Underwriters, sued Wellington Insurance of Texas in May for violating non-solicitation terms and a confidentiality agreement entered into when they started a business relationship pursue in 2018.
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