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The Florida Insurance Guaranty Association board met on March 31 and filed for an emergency assessment of 1% on all Florida property insurance policies. [32] That is in addition to a 0.7% for 2022, a 1.3% assessment from July 1 2022 to June 30 2023, and another 0.7% ending December 31 2023. [32]
In January 2020, CMO provided its final Section 921 report to Congress, citing a total of $37 billion in savings from fiscal year 2017 through fiscal year 2021 across three separate reform efforts: (1) department-wide business reform savings, (2) savings claimed from the FY 2021 Defense-Wide Review, [11] and (3) savings reported in response to ...
ISO was formed in 1971 as an advisory and rating organization for the property/casualty insurance industry to provide statistical and actuarial services, to develop insurance programs, and to assist insurance companies in meeting state regulatory requirements. [4] It became a wholly owned subsidiary of Verisk Analytics in October 2009. [5]
These laws aim to make Florida home insurance more affordable while ensuring enough reserve funds to pay for catastrophic losses. It may take years to know if these changes can stabilize the market.
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The Florida Statutes are the codified, statutory laws of Florida; it currently has 49 titles. A chapter in the Florida Statutes represents all relevant statutory laws on a particular subject. [1] The statutes are the selected reproduction of the portions of each session law, which are published in the Laws of Florida, that have general ...
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Florida’s car insurance laws make it clear that every driver must have an active car insurance policy that meets the following coverage limits in order to operate a vehicle legally: $10,000 ...