Reports & Resources

At Insuring Florida, we publish helpful and informational documents from time to time for the benefit of our readers. These documents are free to download and review. Please note the format of each document, and, if necessary, download the required reader software.

Articles

Florida PIP Bill

HB 119 was signed by Gov. Rick Scott to reform the state’s no-fault auto insurance laws, also known as Personal Injury Protection (PIP). The Insurance Information Institute has prepared a paper to explain what the changes are, when they take place and how they impact Florida drivers who experience injuries in a car crash.

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Hurricane Deductibles

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Overview of Florida Insurance Market

The total value of insured coastal property in Florida is nearly $2.5 trillion, the highest of any other state.

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Insuring to Replacement Cost

Property insurance is priced on the cost to rebuild, not real estate value.

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Sinkhole Law Changes

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Sinkholes

Sinkholes are very common within Florida’s landscape, where numerous underground caves, springs and drainage systems are carved into the porous limestone beneath the earth’s surface.

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Changes in the Flood Insurance Program

Important changes to the National Flood Insurance Program (NFIP) took effect on October 1, 2009.

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Useful Links

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Presentations

Straight Talk About Florida’s Property Insurance Market: May 2011

Inquiring minds may want to know more about certain news stories related to property and casualty insurance in Florida. With that in mind, the Insurance Information Institute created a chart (file below) with key points you may have read in the news, followed by related facts that provide context to the subject.

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Business Insurance 101

A property insurance policy will cover the rebuilding cost of your building, and there are other coverages to consider to help a business bounce back from a substantial loss. These coverage options help you make payroll and pay for utilities and other expenses.

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Residential Insurers’ Market Share By County

Private insurers provide the bulk of property insurance in Florida – 77 percent. Citizens Property Insurance, the state-run company, provides only 23 percent of homeowners with insurance coverage. In fact, in 30 of Florida’s 67 counties, private insurers are insuring at least 90 percent of the homes. In coastal counties, however, the percentage drops, and coastal residents may have both a Citizens policy for their wind/hurricane insurance and a private insurance policy for all the other types of loss, such as a fire, tornado or water damage.

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State of the Florida Property Insurance Market:
Past, Present and Future

This PowerPoint report by Lynne MChristian, Florida representative of the Insurance Information Institute, presented before the Florida House Insurance and Banking Sub-Committee, reviews the state of the Florida property insurance market. Sections include a review of property/casualty performance and historical impacts; profitability and growth analyses; an economic outlook and property exposure impacts analysis; and a catastrophe loss update. The last section focuses on Florida’s historic role regarding hurricanes and tornadoes. The presentation concludes with a discussion of flood and surge—key issues in flood insurance.
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How to Read Your Insurance Policy: Understanding What You Bought & How It Works

The Insurance Information Institute wants every policyholder to understand their insurance protection, and that is especially necessary for the men and women who work in emergency management. At the National Hurricane Conference, the I.I.I. brings together insurance professionals to deliver a presentation to explain what is in a basic home insurance policy. We provide insight into what is covered and what is not. When disaster strikes, those who work in helping a community to recover are focused on others, not their own situation. Knowing what questions to ask and how to protect their family and finances in advance of a major storm is key to peace of mind. The presentation will help you, too.
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Getting Smart About Insurance: For Your Business
and on the Home Front

The Insurance Information Institute partnered with the Small Business Development Center, the Florida Restaurant and Lodging Association and the Florida Division of Emergency Management on a series workshops held throughout the state in June 2013 to help small businesses develop a business continuity plan and prepare for disasters. The I.I.I. presentation focused on what businesses need to know about insurance for both the company and their personal situation. Understanding how insurance works – before disaster strikes – is essential to making good decisions about what type of coverage you need.

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Social Media and Insurance: What You Should Know
About Your Liability

When you use social media tools, it’s not only what you say: it’s also how, where and when. This presentation by the I.I.I.’s Lynne McChristian was delivered at the 2013 National Hurricane Conference in New Orleans. It details how the Insurance Information Institute takes a multi-pronged approach to building community through social media and the different websites and tools it employs for distinct audiences, including one specifically for disaster communication. The presentation also looked at how major insurers maintain their online presence, and it also provided an overview of the liability issues bloggers and social media users may face.
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Florida No-Fault Auto Insurance: A Historical Primer

This PowerPoint report, presented at the Florida Auto Insurance Fraud Strike Force board meeting by the Florida representative of the Insurance Information Institute, provides an overview of no-fault auto insurance in Florida. The report defines no-fault, its objectives, and offers a no-fault timeline for Florida from 1972, when the system was adopted, until now. Charts showing average no-fault claim severity using some 2012 data and a map of the U.S. showing insurance fraud nationwide are included.
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Insurance and Incentives for Mitigation

Over 40 percent of the global population live in coastal cities, and there are significant challenges in managing natural assets of coastal regions as the population continues to migrate toward the water. This presentation, delivered at the Coastal Cities Summit in St. Petersburg, Florida, looks at the overall exposure to risk and the dangers and costs of building and rebuilding in vulnerable areas. It looks at incentives and barriers to mitigation, and what it will take to encourage people to take action to harden a home to make it stand up to hurricane-force winds.
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Property Insurance in Florida: Balancing the Calm
and the Storms

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Auto Insurance Fraud in Florida

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White Papers

Reopening for Business: What Renewed Ties between the U.S. and Cuba Mean for Property/Casualty Insurers

This white paper outlines the limited current state of Cuba’s insurance market, and examines what commercial opportunities may unfold in the future. The developing infrastructure in Cuba will need financial protection from the myriad of natural disasters the country faces—a potent mix of catastrophes, including hurricanes, storm surge and earthquakes.

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No-Fault Auto Insurance Fraud in Florida: Trends, Challenges & Costs

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Hurricane Andrew and Insurance: The Enduring Impact of an Historic Storm

Hurricane Andrew struck Florida on August 24, 1992, and the tumult it created for the property insurance market in the state has not ceased in the 20 years since, according to an analysis by the Insurance Information Institute (.I.I.). The I.I.I. white paper outlines  six key insurance market changes attributed to the costliest Florida disaster. Insurance claims payouts for Andrew totaled $15.5 billion at the time ($25 billion in 2011 dollars), and it remains the second costliest U.S. natural disaster, after Hurricane Katrina, which hit in 2005. Hurricane Andrew forced individuals, insurers, legislators, insurance regulators and state governments to come to grips with the necessity of preparing both financially and physically for unprecedented natural disaster.

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