Reinsurers Lag in Reflecting Florida Tort Reforms in Catastrophe Models
Reinsurers have not fully adjusted their risk assessments to reflect recent tort reforms in Florida's homeowners insurance market. Industry experts indicate that catastrophe models still incorporate outdated data from periods of unfavorable regulation and market practices. This lag suggests a potential misalignment between current regulatory improvements and reinsurer pricing models, influencing the ongoing risk evaluation and underwriting strategies in the Florida insurance sector.