A second Florida property insurance company in a week has admitted it’s insolvent and is now in the process of being taken over by the state, having its assets liquidated, and its policyholders left to …
A Florida property insurance company has been declared insolvent and taken over by the state; insurance regulators are working with carriers to quantify Florida’s big insurance litigation problem contributing to such closures; and insight into what one industry …
In another ominous sign that the consumer insurance protections in last year’s SB 76 aren’t enough, insurance litigation is back on the rise in a big way. CaseGlide reports that the 17 largest property & casualty insurance …
Three more property insurance companies announced last week they will no longer write new Florida homeowners insurance policies until further notice. That brings to seven the number of companies in the past few months that are closed …
Beside their direct impact on Florida homeowners, the dwindling number of carriers and the multiple double-digit rate increases in property insurance we’ve seen are impacting Florida’s real estate market as well. There’s new concern …
Another week has brought more property insurance companies announcing they’ll stop writing new homeowners policies in Florida and/or stop renewing existing ones. Claims creep from the 2020 hurricane season and higher litigation and reinsurance costs are …
When the Citizens Property Insurance Corporation Board of Governors last met in December they had a novel idea. Rather than spend another $250 million on reinsurance like it did in 2021 and get nothing for it given it …
As Florida’s property insurance companies have pulled back from the market, the Excess and Surplus Lines (E&S) carriers have been filling the gap in a big way, recording record overall premiums and transactions here in Florida and …
Last week, several dozen insurance agents and insurance company leaders came to Tallahassee to let their voices be heard about the state of the Florida insurance market. These front line soldiers work hard every day to keep their promises to …
The need for further legislative reforms in Florida’s property insurance market was on full display this past Friday at a public rate hearing where three companies proposed rate increases from 26% to 111%. All three companies’ …
