Demotech Announces Save the Date for Wrap-Up on Legislative Special Session on Florida Property Insurance
Columbus, Ohio, May 5, 2022: Joe Petrelli and Sharon Romano Petrelli, co-founders, Demotech, the first party to publicly request a special session to address the litigation crisis that has overtaken Florida’s residential property insurance marketplace, are pleased to issue this Save the Date for Demotech’s webinar on June 2, 2022, 1100 am to 1230 pm, Eastern.
Petrelli notes, “The reforms enacted in 2019 and 2021 have not curtailed the level of litigation associated with Florida’s residential property insurance marketplace. With approximately 8% of the open homeowners’ insurance claims in the country yet 75% of the litigation on open homeowners’ claims, insurance-purchasing Floridians have been funding the growth and expansion of a few plaintiff attorney firms and roofers. We believe it is time for the legislature to enact meaningful and significant reform that will withstand judicial scrutiny, and make an effort to move litigation levels toward a representative level. Anything less supports the status quo.”
Sharon Romano Petrelli, CPCU, AIAF, CCP, ARC, Vice President and co-founder observed, “Governor Ron DeSantis stepped up to call a special session on this important issue. If the 2019 and 2021 reforms had begun to move the level of litigation toward a representative level, it would be noticeable by now. It is time for reforms that move the litigation needle toward normalcy.”
Confirmed participants from Demotech include:
- Joseph Petrelli
- Barry Koestler, CFA, Chief Ratings Officer
- Bob Warren, CPA (Inactive), CPCU, Manager
- W. Burke Coleman, Chief Regulatory and Compliance Officer.
Also confirmed as of this date are:
- Guy Fraker, Cre8teFutures
- Lisa Miller, Lisa Miller and Associates
- Wesley Todd, Founder and CEO, CaseGlide.
Additional faculty to be announced in the near future.
Here is a link to the event’s registration:
About Demotech, Inc.
Demotech, Inc. was the first firm to review independent, regional and specialty insurers, 1989. More recently, we were the first to call for a special session on Florida’s property insurance marketplace. Since 1985, Demotech has served the industry by assigning accurate, reliable, and proven Financial Stability Ratings® to Property & Casualty insurers and Title underwriters. Demotech’s philosophy is to review and evaluate insurers based on their area of focus and execution of their business model rather than solely on financial size. Visit www.demotech.com for additional information.