News & Updates


Florida Ramps Up Oversight Into Hurricane Season

If legislation signed last month to prop up Florida’s home insurance carriers acts as a small carrot to keep wavering private market capacity in the state, the just approved state budget offers few regulatory sticks to make certain that carriers will be around for at least the short term.

Included in the budget is funding for the state’s Office of Insurance Regulation (OIR) to hire actuaries and examiners to scour the books of insurers to make certain that they “adapt to the changing market conditions.” In addition, state added funds to “stress test” hurricane models used by insurers to set rates and capacity.