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Downgrading financial ratings impacts homeowners with federally-backed mortgages — those from Fannie Mae and Freddie Mac — because these lenders require home insurance companies with Demotech ...
According to Giacone, homeowners benefit from there being more than one major rating agency on the scene in Florida. Oftentimes, insurance companies have ratings from more than one company, which ...
The Insurance Information Institute (III), an industry group, reports that 80 percent of the nation's homeowners insurance lawsuits are in Florida, despite only 9 percent of the nation's insurance ...
That issue was one of the reasons cited by insurance companies leaving Florida according to the Insurance Commissioner Michael Yaworsky. [37] In August 2023 FOIR announced that Mainsail Insurance Company from Texas was approved to operate in Florida. They also disclosed that 280,000 of Citizen's policies were approved for assumption by several ...
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These lawmakers from South Florida are proposing increasing the cap on the value of homes that state-run Citizens Property Insurance can cover in Monroe and Miami-Dade counties.
While the insurance industry likes to point to some bad actors that defraud the system or consumers’ rights to take an insurance company to court, these are not the drivers of Florida’s ...
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