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Feb 06
COMPARATIVE COST STABILITY IN FLORIDA—WITH CAVEAT

​An S&P Global analysis of national homeowners rates finds that Florida had one of the smallest increases in coverage costs between 2019 and 2024, but the analysis did not factor in the impact of the 2024 hurricanes, reports Florida Politics (2/2/25, Dixon). Gov. Ron DeSantis wants $600 million of Florida's $115 billion budget to help homeowners harden their homes against storm damage, reports Central Florida Public Media (2/4/25, Caraballo).​

Feb 06
STATE FARM SEEKS “INTERIM” HIKE IN CALIFORNIA

Citing the effect of historic wildfires, State Farm General wants California regulators to approve an “interim” rate increase that would up the average premium by 22 percent, reports the Insurance Journal (2/3/25, West News). The coming challenge of rebuilding in Los Angeles after the fires will move the expanding U.S. insurance crisis into the spotlight as never before, reports the Associated Press (2/4/25, Ho). 

Feb 06
REPORT: COVERAGE COSTS WILL SHRINK HOME VALUES

A report from the non-profit First Street Foundation claims that the average cost of homeowners insurance in Florida will rise by 89 percent over the next 30 years and in turn bring down home values by an average of 29 percent, reports Fast Company (2/3/25, Peters). Nationally, the cost of homeowners coverage will rise by about 25 percent due to growing risk of climate change, the group concludes.

Feb 06
INSURANCE COSTS UPEND CHURCH BUDGETS

​Some churches are contending with insurance non-renewals and premiums that have doubled or tripled in recent years, reports the New Orleans Times-Picayune (2/2/25, Karlin). An opinion piece in the Times-Picayune (2/2/25) warns of pitfalls from possible abolition of FEMA, an idea put forward by President Trump, while also highlighting the importance of a well-run agency to Louisiana's well-being. The mayor of storm-battered Lake Charles came to the agency's defense in recent public comments, reports The Advocate (1/29/25, Marcantel).

Feb 06
TOWN HOPES TO BOOST LAND-LOSS AWARENESS

A tiny town that is vanishing as a result of hurricanes and land loss hopes this weekend’s Super Bowl will build awareness of the state’s coastal crisis, reports the New Orleans Times-Picayune (2/3/25, Abugov). Much of the town of Leesville was destroyed during Hurricane Ida, while ongoing land loss has swallowed up Louisiana land equivalent to the size of Delaware, the paper reports.

Feb 06
STEEP RATE JUMPS IN NEW ORLEANS’ FUTURE

​New Orleans homeowners will see some of the nation's biggest jumps in homeowners insurance costs—with a 200 percent increase through 2055—as a result of natural disasters, according to a new analysis, reports the New Orleans Times-Picayune (2/3/25, Karlin). State lawmakers debate whether too much litigation or too little regulation are to blame for Louisiana's insurance crisis as they look to bring down costs, reports Louisiana First (2/5/25, Heckt).  Insurance Commissioner Tim Temple disagrees with a Division of Administration ruling in an insurance-fraud case against a Texas law office, reports The Center Square (2/5/25, McKendry).​

Jan 30
NEW SIGN OF IMPROVEMENT IN FLORIDA

​Another property insurer has been approved to do business in Florida, where state officials say the development is additional evidence of an improving market, reports Newsweek (1/29/25, Carbonaro). The St. Petersburg-based insurer is the 11th insurer approved to enter the state's market since a series of reforms in 2022-23.​

Jan 30
DISASTERS UPEND U.S. INSURANCE, REAL ESTATE

​Rising costs from intensifying natural disasters including wildfires like those in Southern California are reshaping the U.S. real estate and property insurance sectors as consumers face major cost jumps, reports Realtor.com (1/27/25, Dantewadia). Insurance costs are increasing fastest in Nebraska and other Midwestern states, reports Carrier Management (1/24/25). A growing number of state insurance departments are exploring innovative ways of reining in costs, reports USA Today (1/27/25, Riquier).​

Jan 30
MANY L.A. HOMEOWNERS CAN’T REBUILD

​Many Los Angeles-area homeowners who lost their homes in the recent wildfires are underinsured and can't afford to rebuild even with coverage of $1 million or more, reports CBS News (1/27/25, Strassman). U.S. economic losses from hurricanes and other natural disasters soared more than 83 percent in 2024 from the year before, reports the Insurance Journal (1/29/25, Veiga).​

Jan 30
BUILDING COLLAPSES DRAW SCRUTINY

​New Orleans officials are considering reforms to the city's building codes that could include a tougher inspection process after a string of building collapses, reports the New Orleans Times-Picayune (1/29/25, Kasakove). A possible overhaul could put more accountability on building owners. In Walker, the city council backed a $21.35 million settlement of a class-action lawsuit over I-12 flooding in 2016 that was made worse by a concrete crash barrier, reports The Advocate (1/28/25, Couvillion). On the Northshore, St. Tammany Parish is looking at new drainage regulations driven by flooding concerns, reports the Times-Picayune (1/27/25, Swett).​

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No, this isn't actually my picture. I just haven't gotten around to updating this section. It's good to know that someone is reading every last word though. Thanks!