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Month: March 2025

Homeowner insurance costs fell by 0.7% in fourth quarter of 2024

Homeowner insurance costs fell by 0.7% in fourth quarter of 2024

Homeowner insurance costs fell by 0.7% between the third and fourth quarters of 2024, a result of declining rates that insurance officials in Florida have been touting for the past several months as signs that the market is returning to health.

The decline in costs of multiperil insurance for owners of single-family houses — from an average premium of $3,668 to $3,644 — marks the first time that costs have dropped since the Office of Insurance Regulation began releasing quarterly Residential Market Share Reports in mid-2022.

Average premium costs are revealed by dividing the total premiums by the number of policyholders reported by companies.

Stacey Giulianti, chief legal officer for Florida Peninsula Insurance, which saw a 3.9% decline in average homeowner premiums, said the result reflects recent reforms that the Florida Legislature enacted to reduce costs resulting from runaway litigation.

“As experts have been predicting for the last few years, the strong actions of the Florida Legislature and governor to decrease frivolous litigation are starting to show solid reductions in personal residential insurance rates,” Giulianti said. “This pro-consumer trend will continue, unless the Legislature makes the big mistake of reversing it in the current session.” read more

How will federal workforce cuts affect the economy?

How will federal workforce cuts affect the economy?

By Anna Helhoski, NerdWallet

Tens of thousands of federal workers have been fired or left since President Donald Trump’s administration began and there are more cuts on the way.

You can still get summer reservations to Wekiwa Springs State Park. Here’s how

You can still get summer reservations to Wekiwa Springs State Park. Here’s how

Turns out, you might be able to get reservations to visit Wekiwa Springs State Park this summer, but you’ll have to wait and possibly strategize.

The Orlando Sentinel reported Tuesday that the park’s website showed all summer days were booked through Sept. 1 under the park’s new ticketing system required to visit the popular attraction.

But the Florida Department of Environmental Protection, which oversees state parks, said Thursday its system only allows reservations 60 days in advance, meaning this week you can try to book through mid-May.

“It looks like there was some confusion,” said Alexandra Kuchta, of the DEP in an email.

Would-be park visitors who have tried to book a date beyond the 60-day window — in June or July, for example — saw messages that read “There are 0 facilities available based on your search,” and “These facilities do not have any available sites currently.” But they might be in luck if they try again later. A new 60-day reservation window to book a day at Wekiwa opens at midnight each day. read more

In latest blow to Tesla, regulators recall nearly all Cybertrucks

In latest blow to Tesla, regulators recall nearly all Cybertrucks

By MATT OTT, Associated Press

U.S. safety regulators on Thursday recalled virtually all Cybertrucks on the road, the eighth recall of the Tesla-made vehicles since deliveries to customers began just over a year ago.

The National Highway Traffic Safety Administration’s recall, which covers more than 46,000 Cybertrucks, warned that an exterior panel that runs along the left and right sight of the windshield can detach while driving, creating a dangerous road hazard for other drivers, increasing the risk of a crash.

The stainless steel strip, called a cant rail assembly, between the windshield and the roof on both sides, is bound to the truck’s assembly with a structural adhesive, the NHTSA report said. The remedy uses an adhesive that’s not been found to be vulnerable to “environmental embrittlement,” the NHTSA said, and includes additional reinforcements.

FILE - A burned Tesla Cybertruck at a Tesla lot in Seattle, Monday, March 10, 2025. (AP Photo/Lindsey Wasson, File)
FILE – A member of the Seattle Fire Department inspects a burned Tesla Cybertruck at a Tesla lot in Seattle, Monday, March 10, 2025. (AP Photo/Lindsey Wasson, File)

Tesla will replace the panel free of charge. Owner notification letters are expected to be mailed May 19, 2025.

The recall of 46,096 Cybertrucks covers all 2024 and 2025 model years, manufactured from November 13, 2023, to February 27, 2025. The NHTSA order says that Tesla became aware of the problem early this year. read more

People on the move

People on the move

Banking

Lynetta Tipton Steed was appointed executive vice president, head of business banking for the Florida and Texas markets for BankUnited Inc. She will be based in Orlando.

Health care

Heather B. Long was appointed senior vice president and Central Florida regional president for UF Health hospitals in The Villages and Leesburg and outpatient locations throughout  Lake and Sumter counties.

Law

Taylor Zymowski has joined Dean Mead as an attorney in the firm’s litigation department.

Real estate

Kim Simeone Tessitore has joined Premier Sotheby’s International Realty, Winter Park, as a sales advisor.

Brett Womack has joined Premier Sotheby’s International Realty, Seminole County, as a sales advisor.

Peter Yates has joined Premier Sotheby’s International Realty, Seminole County, as a sales advisor.

Other

Stephanie Garcia Mullins was appointed executive director of the MainStreet DeLand Association.

Submit professional appointments, management-level promotions and significant awards for individuals, along with photos as .jpg attachments, to peopleonmove@orlandosentinel.com. read more