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Florida homeowners are being denied hurricane insurance because of sky-high deductibles — 1 man says deductible was $7,200 on damage of just $4,500. ... His insurance company estimated the ...
The company estimates it may see 225,000 claims from Hurricane Ian, and company losses could be between $1.9 billion and $3.7 billion, spokesperson Michael Peltier said.
In 2023, Florida’s property insurers turned a profit of almost $150 million, helped by a less-deadly hurricane season, strong returns on investment portfolios and new insurer-friendly laws.
New insurance companies in Florida must be approved by the Office of Insurance Regulation (OIR), which reviews the firm's business plan, projections and financial condition. The judgment of the OIR has been questioned because six of the 18 companies licensed to write "takeout" policies between 2007 and 2011 failed, even though Florida had no ...
A 2021 analysis by then-Florida Insurance Commissioner David Altmaier found that Florida made up 8% of the nation’s homeowners’ claims in 2019, but 76% of its lawsuits.
TALLAHASSEE — Hurricane Milton “poses a significant threat to the Florida property insurance market,” particularly for insurers that focus their business on the state, the financial-rating ...
Florida has been hit with four major hurricanes in the past four years, which has sent insurance premiums rocketing and caused some insurers to pull back on coverage. Florida homeowners fear ...
Insurance regulatory law is the body of statutory law, administrative regulations and jurisprudence that governs and regulates the insurance industry and those engaged in the business of insurance. Insurance regulatory law is primarily enforced through regulations, rules and directives by state insurance departments as authorized and directed ...