Florida property insurers’ lawsuit costs hit fresh high at $3.5B last year
Florida property insurance carriers nearly broke even last year for the first time since 2016 in a much-needed course correction for the market, despite litigation expenses rising to a new high of $3.46 billion. The Florida Office of Insurance Regulation’s latest market stability report shows that insurers collectively had about $100 million in net underwriting losses in 2023. While still in the red, last year’s performance is a major improvement from roughly $1.2 billion in losses in 2022. More from WFTV.
Years after Florida Tech’s research telescope breaks down, students working to repair damages
It was touted as Florida’s largest research telescope when it was installed just 17 years ago. But now, the Florida Institute of Technology’s aging showcase telescope has been rendered sightless for five years or more, its plastic and rubber components deteriorating amid sauna-like 120-degree heat inside its metal dome atop the F. W. Olin Physical Sciences Center. That could change. A small team of students and faculty is working hands-on to try to resurrect and upgrade the damaged optical instrument using systematic “reverse engineering” methodology. More from Florida Today.
Financial counseling CEO Marvin Wilson on using good credit to start your own business
Corie Murray’s ‘Black Men Sundays’ podcast focuses on business, finance and building generational wealth. This week, host Murray shares part one of his interview with Marvin Wilson, aka Meta Marvin, CEO of the financial education company Funding Credit. According to Wilson, the credit-counseling service is meant to be a catalyst for individuals who want to become entrepreneurs, just as he did from humble beginnings. More from Click Orlando.
Alaska Airlines to add Orlando nonstop flights to 2 seasonal destinations
Alaska Airlines (NYSE: ALK) is adding 18 winter routes across the country, including two from Orlando International Airport The SeaTac-based airline will begin seasonal nonstop flights to Liberia, Costa Rica, and Vail, Colorado, in December, adding to its lineup of winter getaway destinations. More from the Orlando Business Journal.
Latino small business community celebrates first ceviche and beer festival
Members of the Gainesville Latino community gathered July 13 to promote small businesses and Hispanic musical talent at the “Ceviche and Beer Festival.” The event, organized by Radio Miraflores USA in collaboration with Trabajando Juntos, an organization dedicated to helping the community, was held at First Magnitude Brewing Company and saw a large turnout of families and friends enjoying an afternoon full of culture and fun. More from the Independent Florida Alligator.
Food & Drink
Plates on Deck reps Central Florida on ‘The Great Food Truck Race’
“The Great Food Truck Race” just rolled into its 17th season on the Food Network, and Central Florida’s own Plates on Deck is part of the four-wheeled armada. This Lakeland-based catering company, repped by chef Ken James, partner and fiancee Ziomara Taveras and his cousin Samuel Jenkins, are part of the “Games on the Gulf,” where, along with eight other food trucks, they’ll be vying for a grand prize of $50,000 while feeding folks on a coast-hugging journey from Houston to Miami.
» More from the Orlando Sentinel.
Entrepreneurs
NextGen: Green Alchemy
An Orlando startup has an eco-friendly formula for creating more durable fabric and solving a fashion industry conundrum. Derek Saltzman and Mason Mincey were freshmen roommates at the University of Central Florida. “We came in as bright-eyed aerospace engineering students. We were really nerdy in the beginning,” recalls Saltzman. Nerdy — and ambitious. Little did they know back in 2016 that they would be starting a company together within a year.
» Read more from Florida Trend.
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