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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 ...
TypTap Insurance is a newer company that was founded in 2016 and funded by HCI Group, Inc. HCI Group deals in homeowners insurance, information technology, real estate and reinsurance.
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 ...
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 ...
Florida’s crumbling homeowners insurance market is exposing one of the state’s long-running flaws: its reliance on a single company to certify the majority of the state’s insurers.
American Strategic Insurance (ASI) was formed in 1997 and led by CEO and President, John Auer.Its initial offering was Florida homeowners insurance. [1] The company has experienced rapid growth and is now expected to offer coverage nationwide by 2017, establishing its place in the top 15 homeowners insurance providers in the United States. [2]
Insurance companies are pulling out of states where evermore frequent natural disasters mean those companies have to pay out large claims after a home is destroyed in a wildfire, leveled by a ...
According to Bankrate, as of August, the average annual premium for insurance in Florida is $5,531 for a $300,000 home — nearly two-and-a-half times the national average of $2,270.