Florida’s Citizens Property Insurance Set for Major Policy Takeout in October

In a significant move aimed at stabilizing Florida’s precarious property insurance market, state regulators have approved a plan to transfer over 400,000 policies from Citizens Property Insurance Corporation to private…

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The Evolving Insurance Landscape in Florida: Signs of Recovery and Ongoing Challenges

Florida's insurance marketplace has long been a topic of concern, especially when it comes to property insurance. Over the past few years, the state has faced a turbulent market, driven…

Continue ReadingThe Evolving Insurance Landscape in Florida: Signs of Recovery and Ongoing Challenges

Florida Gov. DeSantis Signs Bill Seeking to Stabilize Insurance Market By Brendan Farrington | December 19, 2022

Florida Gov. Ron DeSantis signed a sweeping property insurance bill on Friday. How much and when it will work to stabilize the stormy market are among the questions being asked.…

Continue ReadingFlorida Gov. DeSantis Signs Bill Seeking to Stabilize Insurance Market By Brendan Farrington | December 19, 2022

Requiring Citizens’ Policyholders to Also Buy Flood Insurance Could Address Problems By William Rabb | October 19, 2022

Problem: Less than 20% of Floridians in vulnerable areas carry flood insurance. Uninsured flood losses from Hurricane Ian are projected to be as high as $16 billion – almost half…

Continue ReadingRequiring Citizens’ Policyholders to Also Buy Flood Insurance Could Address Problems By William Rabb | October 19, 2022

Tropical Storm Ian could be major hurricane by Tuesday; Statewide emergency in Florida declared Christine Fernando and Claire Thornton USA TODAY

Contributing: Emre Kelly, Florida Today; Associated Press Forecasters expect Tropical Storm Ian to strengthen rapidly in the central Caribbean over the weekend, and the storm could become the first Atlantic hurricane to hit the…

Continue ReadingTropical Storm Ian could be major hurricane by Tuesday; Statewide emergency in Florida declared Christine Fernando and Claire Thornton USA TODAY

Florida’s Citizens Tops 1 Million Policies, Making it Largest in State by a Third August 12, 2022

Florida’s Citizens Property Insurance Corp., created by lawmakers as a last-resort option, has become the largest property insurer in the state with more than 1 million policies in force –…

Continue ReadingFlorida’s Citizens Tops 1 Million Policies, Making it Largest in State by a Third August 12, 2022

Florida homeowners will see new surcharge on insurance bills to cover insolvent companies

By: Stassy Olmos TAMPA, Fla. — Homeowners will continue to see an increase in the price to live in paradise with another surcharge tacked onto their insurance premiums in 2023. This is to…

Continue ReadingFlorida homeowners will see new surcharge on insurance bills to cover insolvent companies