Viewpoint: Why Florida Property Insurance Rates Might (and Might Not) Keep Falling
hurricane exposure, Florida property insurance market, Insurance Regulation News, Florida Legislature, reinsurance, Citizens Property Insurance Corporation
News & Updates
reinsurance
With Falling Private Re Prices, Should Florida Let Insurers Buy Less From the Cat Fund?
Office of Insurance Regulation, reinsurance, Florida Hurricane Catastrophe Fund, Insurance Regulation News, property insurance, Florida CAT Fund
Governor DeSantis Questions Critics of Property Market Reforms
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 […]
Florida Citizens ‘Going Naked’ on Re Below Cat Fund Layer; Could Mean Assessment
reinsurance, Florida hurricane season, Insurance Regulation News, Florida Hurricane Catastrophe Fund, Citizens Property Insurance Corporation
Former Lawmaker Supports Continuing Reform Path
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 picture improves for Florida
property insurers, Florida homeowners, Florida hurricane season, Insurance Regulation News, Florida Hurricane Catastrophe Fund, reinsurance
Hurricane Catastrophe Fund gets healthier with season approaching, has $10.16B to pay claims
Insurance Regulation News, Florida Hurricane Catastrophe Fund, reinsurance, hurricane season
Will Ian Consume Florida Cat Fund, Forcing More Back-Breaking Reinsurance?
Hurricane Ian, FHCF, special session, property insurance, Insurance Regulation News, reinsurance, Citizens Property Insurance Corporation
Governor’s Proclamation Outlines Scope of Session
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) […]
Florida Market Needs Lasting Reform
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…. […]