Property Insurance Coverage Law Blog : Florida Insurance Lawyer & Attorney : Merlin Law Group Law Firm : Tampa, Houston, Coral Gables, Gulfport

Hurricane Katrina turned Aug. 29 into a red-letter date in New Orleans history, but storm victims should circle Aug. 28 on their calendars.  In Louisiana, August 28th is the deadline for filing suit against your insurance company for damage caused by Hurricane Katrina, and the state is bracing for an onslaught of last minute lawsuits being filed prior to the impending deadline. Louisiana has a one year prescription period (aka "statute of limitations"). The effect of the law would have been to force thousands of insurance disputes into litigation prematurely and much hardship on already burdened insureds.

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In an interview with Victoria Langley, Alex Sink, Florida's Chief Financial Officer, weighed in on what she believes went wrong with Florida's insurance reform plans.  Part of the reform involved lawmakers putting an additional $12 billion dollars of taxpayers' money into the states Catastrophe fund. This was supposed to allow insurance companies to reduce rates; however, we're not seeing any real significant rate decreases. As a matter of fact, many companies have filed for rate increases.

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