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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]
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The Department of Business and Professional Regulation (DBPR) is the agency charged with licensing and regulating more than 1.6 million businesses and professionals in the State of Florida, such as alcohol, beverage & tobacco, barbers/cosmetologists, condominiums, spas, hotels and restaurants, real estate agents and appraisers, and veterinarians, among many other industries.
Florida Department of Financial Services (FLDFS) is a state agency of Florida. Its headquarters are in Tallahassee . [ 1 ] In 2002 the Florida Legislature merged the Department of Insurance, Treasury and State Fire Marshal and the Department of Banking and Finance into one department, the Florida Department of Financial Services.
The crisis in the Florida insurance market. Florida has always been a complex home insurance market. Since 2017, eleven property and casualty companies that offered homeowners insurance in Florida ...
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The Florida Insurance Guaranty Association (FIGA) was created by the Florida Legislature in 1970 as a nonprofit corporation to process covered claims of insolvent members by or against Florida policyholders with a limit of $300,000 per residence or non-residence commercial; $200,000 per condominium unit. Association members are all Florida ...
The added cost of flood insurance. About 40 percent of the hurricanes that make landfall in the U.S. hit Florida. Since Southern Florida is only about 60 miles wide, flood insurance may be crucial ...