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These lawmakers from South Florida are proposing increasing the cap on the value of homes that state-run Citizens Property Insurance can cover in Monroe and Miami-Dade counties.
Florida-based insurers, which cover about four out of every five policies in the state, are also highly dependent on reinsurance, which they purchase to help pay out storm claims each year.
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.
The Government Employees Insurance Company (GEICO / ˈ ɡ aɪ k oʊ /) is an American auto insurance company headquartered in Chevy Chase, Maryland.In addition to auto insurance, GEICO provides motorcycle, ATV, RV, boat, snowmobile, travel, pet, event, homeowner, renter, and jewelry insurance options. [4]
Thanks to mounting hurricane losses, home insurance premiums in Florida have risen an astonishing 300% in the last five years, according to the financial news site Benzinga. Residents there now ...
Todd Anthony Combs (born January 27, 1971) is a former hedge fund manager and current investment manager at Berkshire Hathaway, who has been the chief executive officer (CEO) of GEICO since January 2020. [1] Alongside Ted Weschler, he is frequently cited as a potential successor of Warren Buffett as the chief investment officer of Berkshire. [2]
On February 8, 2013, Senator Jeff Brandes filed Florida Senate Bill 724, a comprehensive bill to overhaul Florida property insurance law [20] to avoid new "hurricane taxes" which would be necessary if another catastrophic hurricane ravaged the state. The proposal is unpopular among many Citizens customers because it would mandate more rate ...
If they want to reduce the problem in Florida, here are five ways. How to fix Florida's homeowners insurance. 1. Reduce risks and use more self-insurance, so homeowners have more at stake to ...