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Governor Ron DeSantis continues to support the property insurance reforms adopted in late 2022. This is not surprising considering that following the reforms existing insurers have increased their appetites for additional policies, rate levels have moderated and started to decline, approximately 14 new companies have entered the market, and Citizens Property Insurance Corporation has seen […]
Citizens Property Insurance Corporation, reinsurance, Florida Hurricane Catastrophe Fund, Insurance Regulation News, Florida hurricane season
In an opinion piece in Florida Politics this week, former state Senator Garrett Richter identified Florida’s 2022 statutory reforms as the critical foundation of Florida’s improving property insurance market. He noted that from 2017 to 2022, Florida’s property insurance market devolved into one of the worst in the country. More than a dozen insurers became […]
reinsurance, Florida Hurricane Catastrophe Fund, Insurance Regulation News, Florida hurricane season, property insurers, Florida homeowners
hurricane season, reinsurance, Florida Hurricane Catastrophe Fund, Insurance Regulation News
Citizens Property Insurance Corporation, reinsurance, Insurance Regulation News, property insurance, special session, FHCF, Hurricane Ian
Governor Ron DeSantis’ proclamation declaring a special session on property insurance identifies its scope and provides insight into the upcoming debate. The proclamation specifies the special session will consider (a) property insurance, (b) reinsurance, (c) changes to the Florida Building Code to improve the affordability of property insurance, (d) the Office of Insurance Regulation, (e) […]
The residential insurance market in Florida has experienced years of deterioration resulting in decreased availability of private market options, reductions in coverage and rising insurance premiums. As has been well established by the Florida Office of Insurance Regulation and others, Florida never really had a sinkhole problem, a mold problem, or a water damage problem…. […]
The Federal Insurance Office (FIO) of the U.S. Department of the Treasury (Treasury) has issued a Request for Information (RFI) seeking public input on climate-related financial risks and their impact on the insurance industry. The RFI requests written comments from interested parties on or before November 15, 2021. As background, the FIO points out that […]
reinsurance, Florida Hurricane Catastrophe Fund, Insurance Regulation News, property insurance, claims-paying capacity
