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New Citizens CEO discusses plan for Florida’s largest property insurer

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New Citizens CEO discusses plan for Florida’s largest property insurer


TALLAHASSEE, Fla. – The state’s largest property insurer has a brand new CEO.

The board for Residents Property Insurance coverage Company named Tim Cerio to the submit.

It comes after the previous CEO, Barry Gilway, introduced his retirement after the final particular legislative session.

Cerio is not any stranger to Citizen’s. He spent the final two years performing as common counsel.

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Cerio takes the helm as new laws takes impact, impacting the corporate.

With new laws, it has turn out to be harder to qualify for Residents, and over the following couple of years, tons of of hundreds of coverage holders shall be nudged again into the non-public market.

Cerio says his precedence is making the transition as seamless as potential.

“I believe the most important problem is managing the expansion within the coverage rely,” Cerio instructed Information 6.

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As Cerio steps into the function of CEO and government director of Residents Property Insurance coverage Company, his precedence is crystal clear.

“Reaffirming the dedication to say, ‘We get it.’ We have to focus all our methods on being that insurer of final resort,” Cerio mentioned.

Residents was designed to be the insurer of final resort, however over the previous few years in Florida’s turbulent insurance coverage market, Residents has ballooned to the most important insurer within the state with about 1.17 million insurance policies.

Cerio admits there’s a lot much less angst amongst lawmakers, and fewer legal responsibility on taxpayers, when the corporate is round 450,000 insurance policies.

“It’s going to take 18 to 24 months to see important enchancment. It may take longer for us to get right down to 450,” Cerio mentioned.

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A few of Residents’ present coverage holders inform Information 6 they’re feeling the stress.

“Residents is pushing again on me to make use of non-public protection,” a viewer wrote to Information 6 in an electronic mail. “They’re offering prices for different non-public coverages and making me must agree or disagree every time.”

“We don’t wish to do issues that artificially hamper entry if you happen to’re in any other case certified, or that artificially kick you out when you have to be in,” Cerio mentioned.

In December, Florida’s legislature handed Senate Invoice 2A, which partly states that if a house owner can discover a coverage inside 20% of the worth of their Residents coverage, they’re not eligible for Residents.

The identical laws additionally requires Residents coverage holders to get flood insurance coverage in the event that they dwell in a flood zone.

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Cerio’s precedence is ensuring the laws has the supposed impact: de-populating Residents.

“The message does appear to be clear from the Legislature and the governor,” Cerio mentioned.

“We have to return to being the insurer of final resort, however in case you are with Residents and whilst you’re with Residents, we’re going to take excellent care of you,” Cerio mentioned.

Residents additionally wish to give attention to enhancing customer support to their coverage holders, Cerio mentioned.

In the event you’re a Residents buyer, you would possibly have to be taking a look at alternate options over the following few months, if solely so that you’re not caught off guard.

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You may hear to each episode of Florida’s Fourth Property within the media participant under:

Copyright 2023 by WKMG ClickOrlando – All rights reserved.



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Florida

‘Now is the time to act’: Florida battling lithium-ion battery fires as more electric vehicles hit the roads

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‘Now is the time to act’: Florida battling lithium-ion battery fires as more electric vehicles hit the roads


TALLAHASSEE, Fla. (WCTV/Gray Florida Capital Bureau) – The state of Florida is developing new standards for managing lithium-ion battery fires.

State Fire Marshal Jimmy Patronis said new rules are needed because electric vehicles and other devices like e-scooters and e-bikes are becoming more common.

“The danger is known. It is real. Now is the time to act,” Patronis said during a news conference in Orlando.

The Department of Financial Services began making rules Thursday to develop standards for managing lithium-ion battery fires. Patronis said having standards for handling these fires is critical for Florida because electric vehicles can catch fire shortly after a hurricane.

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“These heavily metalized saltwater create bridges on these batteries and they short out. And when they short out they will create a cascade effect,” Patronis said.

Patronis said 20 EVs caught fire after Hurricane Ian in 2022. Florida Professional Firefighters President Bernie Bernoska said firefighter safety needs to be looked at more than just trying try put out these fires.

“Beyond the challenge of simply extinguishing these fires, there’s also another danger that is sometimes overlooked and deals with the harmful cancer-causing gases produced during a lithium battery fire incident,” Bernoska said.

In addition to creating state rules, Patronis is encouraging Congress to pass federal standards for lithium batteries.

“We’ve got to be sensitive to where the problems lie that have not yet been fully discovered or factored in how to deal with these technologies,” Patronis said.

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It could take nine months to a year to develop the state standards.



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Man who allegedly defrauded CT victim of $100K+ extradited from Florida

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Man who allegedly defrauded CT victim of $100K+ extradited from Florida


A Florida man was arrested for allegedly defrauding a victim in Connecticut of over $100,000, police said.

On Thursday, Coventry police arrested 29-year-old Osmaldy De La Rosa Nunez of Orlando, Florida, on one count of first-degree larceny after an investigation into a wire fraud in August 2022, according to the department.

Police alleged that De La Rosa Nunez communicated with the victim as a person with whom the victim was familiar and had money transferred to him that was due to a third party which amounted to a loss of around $135,000.

According to police, De La Rosa Nunez was using a fictitious name, and his true identity was discovered with the assistance of the Florida Department of Law Enforcement.

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De La Rosa Nunez was held in Florida as a fugitive from justice, police said. He waived extradition and was transported back to Connecticut to face charges.

De La Rosa Nunez was being held on a $500,000 court-set bond and was scheduled to be arraigned at Rockville Superior Court on Friday.



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Why doesn’t Florida have vehicle inspections?

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Why doesn’t Florida have vehicle inspections?


ORLANDO, Fla. – News 6 traffic safety expert Trooper Steve Montiero answers viewer questions about the rules of the road every week, helping Florida residents become better drivers by being better educated.

Trooper Steve on Thursday was asked, “Why doesn’t Florida have vehicle inspections?”

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Florida has not had vehicle inspections, unlike several northern states, for quite some time, Trooper Steve said.

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“In the early ‘80s, Gov. Bob Graham ended vehicle inspections. About 10 years later, they were reinstated until 2001 when Gov. Jeb Bush stopped them due to costs,” Trooper Steve said.

Florida does not require annual vehicle inspections, but there are some laws on the books that allow law-enforcement to keep smoky vehicles off the road, he added.

Florida Statute 316.272 (2) says, “The engine and power mechanism of every motor vehicle shall be so equipped and adjusted as to prevent the escape of excessive fumes or smoke.”

And Florida Statute 316.2935 discusses air pollution control equipment.

If you have a question for Trooper Steve, submit it here.

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For more Ask Trooper Steve content, click or tap here.

Copyright 2024 by WKMG ClickOrlando – All rights reserved.



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