News & Updates


Florida Insurance Market Inches Closer to Crisis – Part 2

The Florida Office of Insurance Regulation is monitoring the state’s property insurance situation that is seen as in a crisis by those in the industry.

The regulator said the insurance market has been buffeted by multiple hurricanes in the last several storm seasons, as well as by other market challenges like assignment of benefits (AOB) abuse, that “have led to high loss reserve development, increased litigation, and increased cost of catastrophe reinsurance.”