Florida is frequently the target of increasingly severe natural disasters like hurricanes, floods, and other calamities that drastically affect the property insurance market.
Tag: Florida property insurance market
State of the Florida Property Insurance Market
The state’s property and casualty insurance markets are in crisis. Insurers struggle to cope with rising litigation costs and billions of dollars in damages from hurricanes. Most insurance companies are cutting back on their services, limiting their coverage, and increasing rates. Other insurance companies have left Florida altogether or collapsed, leaving property owners scrambling for… Continue reading State of the Florida Property Insurance Market
Florida Gov. DeSantis Sets Special Session to Address Property Insurance Crisis
Following through on his earlier pledge, Gov. Ron DeSantis on Tuesday called lawmakers back into special session next month to work on new fixes for the state’s troubled property insurance market. DeSantis set the session for May 23 through May 27, giving the governor and lawmakers at least the appearance of tackling a deepening crisis… Continue reading Florida Gov. DeSantis Sets Special Session to Address Property Insurance Crisis
Rising Insurance Premiums, Carrier Losses Threaten Florida Real-Estate Boom
Florida’s property-insurance market is headed toward a crisis, as mounting carrier losses and rising premiums threaten the state’s booming real-estate market, according to insurance executives and industry analysts. Longtime homeowners are getting socked with double-digit rate increases or notices that their policies won’t be renewed. Out-of-state home buyers who have flocked to Florida during the… Continue reading Rising Insurance Premiums, Carrier Losses Threaten Florida Real-Estate Boom