Citizens Property Insurance is ordered to lower its 2026 rates even further, as the insurance commissioner and Governor tout growing affordability in Florida’s property insurance market; a new report shows claims lawsuits and costs continue …
In our recent reporting of the latest Property Insurance Stability Report by the Florida Office of Insurance Regulation (OIR), we noticed that although OIR provided county-by-county average homeowners and condo unit premiums, there was no statewide average shown. So we …
The Florida Office of Insurance Regulation (OIR) has gone from “optimistic” in January to “confident” today about the impact of the 2019-2023 property insurance reforms passed by the Florida legislature and the positive …
Lawsuits against property insurance companies writing Florida polices fell 23% in 2024 from the year prior, the lowest since 2018, as some companies have filed for rate decreases in the aftermath of the 2019-2023 insurance …
Florida-based property insurance companies as a whole were off to a very profitable start this year, with first quarter 2024 net income rivaling all of 2023’s figures, and net underwriting results now in positive territory, …
The Florida Office of Insurance Regulation (OIR) has released its latest twice-annual Property Insurance Stability Report and although the market is nowhere near being out of the woods yet, there are “emerging signals that the reforms …
A new report by regulators shows that the Florida property insurance market in the first quarter of 2023 had net positive income for the first time in seven years with net underwriting losses also encouraging. …
Reaction has been very favorable to the comprehensive property insurance market reforms passed by the Florida Legislature in its special session last month. Comments such as “profound” and “historic” and “will really unlock consumer …
Earlier this month, the Office of Insurance Regulation (OIR) reported that 27 companies are on its own “enhanced monitoring” list for various indicators of unsound financial condition. OIR also reports that excessive litigation …
