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Between home insurance companies going insolvent, limiting their risk or leaving the state altogether, Florida has lost over 30 insurance providers — or some form of coverage from these ...
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.
The Citizens Property Insurance Corporation, a state-established insurance nonprofit company, has a $100 million annual legal defense fund and 20,000 open lawsuits pending, reports III.
The state set up a nonprofit, Citizens Property Insurance Corp, in 2002 to provide coverage for homeowners who cannot find it through the private sector. With 1.2 million policies in force, it is ...
That issue was one of the reasons cited by insurance companies leaving Florida according to the Insurance Commissioner Michael Yaworsky. [37] In August 2023 FOIR announced that Mainsail Insurance Company from Texas was approved to operate in Florida. They also disclosed that 280,000 of Citizen's policies were approved for assumption by several ...
Florida’s home insurance crisis may be causing residents to flee the state in droves as premiums skyrocket. Rising home insurance rates in Florida could be driving people away. What’s happening:
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