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Florida has always been a complex home insurance market. Since 2017, eleven property and casualty companies that offered homeowners insurance in Florida liquidated. Five of those companies ...
That's hardly an ideal free market policy. In a better world, insurance companies would be allowed to unilaterally condition their policies on homeowners waiving their rights to assignment of ...
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.
TALLAHASSEE — Farmers Insurance Group announced Tuesday that it would no longer write new policies or renew existing homeowner, auto and umbrella policies, a day after Florida Chief Financial ...
Data from Citizens, the state-chartered property insurer of last resort for homeowners who can’t find coverage in Florida’s shaky home insurance market, show the company dropped 2,267 policies ...
Insurance agents were prohibited from writing policies through Citizens if there was a private (not surplus lines) carrier that would write the risk. If a qualified insurance company was willing to take a group of policies, Citizens Insurance would transfer them to that company and cancel coverage. Customers had no recourse.
State regulators have approved new insurance companies to enter Florida’s market. Others are forming, and although companies like Farmers and Progressive recently announced plans to leave or ...
The property and casualty insurance company was approved to begin writing insurance in the state on Sept. 1 but won’t begin until after the 2023 Atlantic hurricane season ends on Nov. 30.