Friday's Afternoon Update

What you need to know about Florida today

| 4/26/2024

Insurance rates stabilizing thanks to legal reforms, officials say. But homeowners still feeling pain.

Lawsuits against property insurers declined by more than 20% in the first quarter of 2024 compared to the previous quarter, and that’s fueling market confidence that’s beginning to stabilize homeowner insurance rates in Florida, the state’s chief financial officer said. Homeowners say they haven’t seen rates ease yet. More from the South Florida Sun-Sentinel.

Estero-based Hertz will sell off more EVs as it looks to reduce costs and right-size fleet

Hertz has upsized its sale of electric vehicles, as it looks to improve its financial performance. The news came as part of the Estero-based company's earnings announcement on Thursday. In the first quarter, the publicly traded company upped its EV disposition plan by 10,000 vehicles. It now plans to sell 30,000 this year, due in large part to their high repair and maintenance costs, which have weighed heavily on earnings. More from the Fort Myers News-Press.

International migration to Orlando at 5-year high

Central Florida has become a top destination for international migrants, with over 32,000 people coming here from other countries in a 12-month period that ended last July. International migration was a large part of the region's population boom, but was beat out by domestic migration in all Central Florida counties but two — Orange and Seminole counties, according to the Census data. More from the Orlando Business Journal.

Scottish tech firm opening U.S. headquarters in Tampa, hiring 100

A Scottish technology firm is opening an office and operations center in Tampa across from International Plaza and plans to hire 100 employees. Glasgow-based Systal Technology Solutions, which specializes in managed network, cloud and security transformation, has leased 5,422 square feet of space in the One Met Center building at MetWest International on Boy Scout Road. More from the Business Observer.

Ten Miami hotels just won bragging rights in a new Michelin guide. See the list

Ten hotels in Miami-Dade County won bragging rights this week, singled out in a new but prestigious ratings system that is a holy book for foodies. The Michelin Guide, known better for making restaurant owners exalt or weep, came out with its first ever assessment of hotels in the United States. The guide awards keys to hotels — signifying “an extraordinary stay, worthy of a specific trip” — instead of the well-known star system for restaurants. More from the Miami Herald.

Business Beat - Week of April 26th

Get top news-to-know with Florida Trend's headline-focused video news brief, hosted by digital content specialist Aimée Alexander.

Health Care
Bolstering opioid recovery

The Pasco County Board of Commissioners awarded $8.1 million to nine organizations that aid people struggling with substance abuse and mental health disorders. The money comes from a global settlement with opioid manufacturers and distributors and will be used for mental health support, medical supplies, transitional housing, case management and community outreach.