Florida Auto Insurance Rebates Total Nearly $1 Billion After Litigation Reforms
Florida auto insurance reforms lead to nearly $1 billion in rebates for Progressive policyholders, signaling lowered litigation costs and market-wide rate reductions.
Stand Insurance Raises $35M to Expand Homeowners Coverage in High-Risk Florida Market
Stand Insurance secures $35 million in Series B funding to expand homeowners insurance into Florida's high-risk catastrophe market. Focus on resilience, AI-driven underwriting, and property risk mitigation.
Stand Secures $35M Series B to Expand Resilience-Linked Property Insurance into Florida
Stand raises $35M to expand its resilience-linked property insurance model from California to Florida’s high-risk windstorm market, promoting mitigation-based coverage.
Florida's Hurricane Fund Retention Formula Inflates Insurance Premiums
Florida's automatic increase in the Hurricane Catastrophe Fund retention contributes to higher homeowners insurance premiums by driving up reinsurance costs. Resetting the retention threshold could lower premiums and improve market stability.
Praxis Reciprocal Exchange Launches as Florida-Based Reciprocal Property Insurer
Praxis Reciprocal Exchange secures regulatory approval to operate as a reciprocal property insurer in Florida, prioritizing policyholder interests and market stability.
Florida Property Insurance Reforms Face Challenges Amid Rising Claim Denials
Florida's 2022 property insurance reforms have not reduced claim denials or lawsuits, leaving homeowners with higher costs. Regulatory fines and ongoing investigations target insurers' compliance amid rising hurricane-related claims.
Reinsurers Lag in Reflecting Florida Tort Reforms in Catastrophe Models
Reinsurers have yet to fully incorporate Florida's recent tort reforms into catastrophe models, affecting risk assessment and underwriting in the homeowners insurance market.
Florida Insurance Reforms Attract New Property Carriers, Lower Rates in 2024
Florida's recent insurance reforms drive new property insurers into the market, lowering homeowners and auto insurance rates and reducing litigation.
Rising Homeowners Insurance Premiums Spur State-Level Reforms in California and Florida
Homeowners insurance premiums are set to rise 8% in 2025, driving state-level reforms in California and Florida aimed at stabilizing markets impacted by natural disasters and regulatory challenges.
Florida Homeowners Face Continuing Insurance Premium Increases Despite Market Reforms
Despite recent legal reforms and new insurers entering the market, most Florida homeowners continue to experience rising home insurance premiums. Data shows varied insurer performance with Citizens Property Insurance reducing premiums but shrinking in policy count. Market competition grows in South Florida, yet overall costs trend upward due to inflation and underwriting dynamics.