South Florida Home Insurance Insights

03/02/2023

Late last year, State Farm's chief executive broke the news that the auto giant would record the largest underwriting loss in its 100-year history for

10/16/2022

The Progressive Corporation has reported an expectation of recovering around $1.2 billion from its property reinsurance arrangements, to help it pay for

10/13/2022

Universal Insurance Holdings has so far received approximately 18,000 claims following the impacts of hurricane Ian and expects its overall gross ultimate

09/21/2022

Citizens last week reached 1.055 million policies, more than double the number two years ago

09/07/2022

Great insights re: the Florida insurance market & its current conditions.

Florida insurance and reinsurance market news Florida is considered ground-zero for global property catastrophe risk given its exposure to hurricanes and the significant insured values-at-risk. As a result, the Florida market is effectively ground-zero for the catastrophe bond and insurance-linked s...

09/01/2022

A 0.7% assessment on all non-auto insurance policies will begin Jan. 1, 2023 and last throughout the year.

08/30/2022

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Last month, the Demotech, Inc., an Ohio- based financial ratings firm, announced it would downgrade 17 private insurers operating in Florida. In his letter to Fannie Mae, Freddie Mac, and the Federal Housing Finance Agency, Florida Chief Financial Officer Jimmy Patronis, called Demotech, Inc. "a rog...

08/29/2022

As utility bills soar and the federal government offers generous tax incentives for renewable energy investments, more Florida homeowners are seriously

08/22/2022

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The Board of Directors made the decision to borrow $150 Million after five property insurers have gone insolvent in Florida since February.

08/22/2022

Florida property insurance concerns mount.