Florida Chamber of Commerce cheers property insurance reforms bring more insurers to state
More than a dozen new property insurance companies have entered the Florida market since reforms began in 2023.
The Florida Chamber of Commerce says insurance industry reforms instituted in Florida two years ago continue to pay dividends, as more property insurance companies are entering the market.
Chamber officials say insurance premiums are at least stabilizing in the wake of the key regulatory changes in 2023. The number of policies covered by Citizens Property Insurance Corp., the state-backed insurance option for residents and businesses who can’t get coverage from for-profit companies, is also starting to decline due to failing demand.