Connect with us

News from the South - Florida News Feed

Florida bill would build center to improve property insurance affordability | Florida

Published

on

www.thecentersquare.com – By Steve Wilson | The Center Square – (The Center Square – ) 2025-03-28 08:11:00

(The Center Square) – A bill in the Florida Senate would create a center to research the accessibility and affordability of property insurance.

Senate Bill 114, sponsored by Sen. Jay Trumbull, R-Panama City, would rename the Florida Catastrophic Storm Risk Management Center to the Florida Center for Excellence in Insurance and Risk Management and move it from Florida International University in Miami to Florida State University in Tallahassee. 

Under the Trumbull bill, the center would be required to collaborate with the Office of Insurance Regulation to produce an annual report analyzing the property insurance market. These reports would provide recommendations on improving both the accessibility and affordability of property insurance. 

SB114 would allocate $5 million to start the center and $1.5 million in an annual appropriation to funds its operations. 

The insurance office would be required to contract with the new center to manage the state’s public hurricane loss projection model, which was created by lawmakers in 2000 and put in place at FIU.

This model, unlike the ones used by insurers, would have its assumptions and methodologies open to public review. Lawmakers in the last two fiscal years have appropriated $1.2 million and $2.2 million for improvements to the model.

Florida’s property insurance market has been hit hard after the state was struck by three hurricanes in 66 days last year, tying a record. According to a report by Insurify, Florida has the highest rates nationally at nearly $11,000 in 2023 and the report predicted a 7% increase for 2024. 

“The high cost of homeowners insurance is top of mind for Florida families,” Trumbull said in a news release. “Reforms passed by the Legislature have helped stabilize the property insurance market, and we are finally starting to see some companies lower rates.

“This bill will keep up the positive momentum, creating the premier academic insurance research center in the nation to identify mitigation and resiliency steps Floridians can take to fortify their homes. It also ensures state regulators have the most up-to-date information available to set rates and affirm the financial health of insurance companies.”

In 2007, the Legislature created the Florida Catastrophic Storm Risk Management Center (Storm Risk Center) within the Department of Risk Management of Florida State University’s College of Business.

Lawmakers appropriated $7.9 million to the project starting in 2008 until fiscal 2015-16, when then-Gov. Rick Scott vetoed an outlay of $1.5 million which ended the project.  

A companion bill, House Bill 1097, is in the House.

The post Florida bill would build center to improve property insurance affordability | Florida appeared first on www.thecentersquare.com

News from the South - Florida News Feed

Bus driver shoots 2 passengers dead after argument, police say

Published

on

www.abcactionnews.com – Nadirah Sabir, Steve Maugeri – 2025-03-30 16:19:00

SUMMARY: In Miami Gardens, two men were shot and killed by a Miami-Dade transit bus driver after an argument early Sunday morning. The incident occurred on a bus during a routine route. Police responded to a disturbance call, and the victims were later pronounced dead at Aventura Hospital. Witnesses reported hearing multiple gunshots, expressing concern over violence in the community. The driver, who is in custody, shot the passengers during the altercation; authorities are investigating the situation. Miami-Dade officials clarified that bus drivers are not permitted to carry firearms for self-defense. The shooting is under investigation.

Read the full article

The post Bus driver shoots 2 passengers dead after argument, police say appeared first on www.abcactionnews.com

Continue Reading

News from the South - Florida News Feed

Spotty showers and storms settle over South Florida

Published

on

www.youtube.com – CBS Miami – 2025-03-30 09:14:28

SUMMARY: South Florida is experiencing spotty showers and thunderstorms, especially as the Miami-Dade County Fair continues this weekend. Attendees should be prepared for possible rain and pack umbrellas. The area has seen light rain, with some heavier downpours reported in parts like Hollywood and Southwest Ranches. An upper-level disturbance is enhancing rain chances, with potential for isolated thunderstorms, particularly in the afternoon. Although scattered showers will persist into the evening, tomorrow’s forecast suggests a decrease in rain chances as warm and humid conditions settle in, with temperatures rising into the mid-80s throughout the week.

YouTube video

South Florida weather for Sunday, March 30.

Source

Continue Reading

News from the South - Florida News Feed

Turkey arrests Swedish journalist over alleged terrorist connections to a pro-Kurdish group

Published

on

www.news4jax.com – Associated Press – 2025-03-30 04:19:00

SUMMARY: Turkish authorities arrested Swedish journalist Joakim Medin upon his arrival at Istanbul airport, charging him with “membership in a terrorist organization” and “insulting the president.” Medin, from Dagens ETC, was detained after he allegedly participated in a January 2023 rally in Stockholm supporting the Kurdistan Workers’ Party (PKK), which Turkey labels a terrorist group. The Turkish Presidency’s Counter Disinformation Center stated the arrest was not due to his journalistic work. Following the recent nationwide protests, over a dozen journalists have been detained as part of a crackdown on media coverage in Turkey.

Read the full article

The post Turkey arrests Swedish journalist over alleged terrorist connections to a pro-Kurdish group appeared first on www.news4jax.com

Continue Reading

Trending