Amid a push to move policyholders into the private market, regulators have approved proposals by six private insurers to take as many 153,000 policies from the Florida’s Citizens Property Insurance Corp., the state’s property insurer of last resort.
Tag: Florida homeowners market
Insurers in Florida Facing Multiple Crises
According to an Issues Brief published by the Insurance Information Institute (Triple-I), the turmoil in Florida’s homeowners insurance market is primarily caused by the state’s excessive number of lawsuits and commonplace fraud schemes. “Floridians’ homeowners’ insurance is becoming more expensive and scarce because the state has been the site of too much litigation and too… Continue reading Insurers in Florida Facing Multiple Crises