There’s a Storm Brewing in Florida’s Insurance Market
Good afternoon, While many along the Gulf Coast are beginning to prepare for the 2023 Atlantic hurricane season, which begins June 1 and runs through
News
Florida’s insurance crisis continues; experts warn rates won’t drop soon
Florida lawmakers passed a $117 billion state budget but don’t expect any of that to instantly solve the state’s insurance crisis. Many taxpayers accuse legislators
Fla. and La. must borrow millions to pay insurance claims
The Gulf Coast insurance crisis has hit a new low as two state-chartered insurance associations are being forced to borrow hundreds of millions of dollars
Credit Outlook for Allstate’s Florida Unit is Negative, Reflects Deteriorated Surplus
The AM Best financial rating firm’s tepid outlook for Allstate’s Florida subsidiaries, Castle Key Insurance Co. and Castle Key Indemnity Co., has raised new questions
‘I almost had a heart attack’: Florida homeowners rattled by property insurance costs
It could have been the unbeatable waterfront view or a perfect perch that overlooks the jungle-like backyard. Perhaps it was a place the size of
Reinsurance Uncertainty Taking a Toll
Another Florida property insurance company has joined more than a dozen others in the last year who placed moratoriums on writing new business or left
Florida insurance companies dealing with their own rate hikes as more collapses loom
More Florida insurance companies could go belly up in the next 18 months. It’s a prediction being made by many insurance industry experts and it’s
Florida faces more problems with reinsurance
As Florida lawmakers try to stabilize the troubled property-insurance system next month, they could face worsening problems with reinsurance, a critical part of the system.
Florida property reinsurance rates expected to jump 40% to 50% in June
TAMPA, Fla. (WFLA) — The Sunshine State, home to more than 22 million people, has an affordability problem when it comes to housing—not just for