According to the Insurance Information Institute’s latest issues brief, Florida: State of the Risk, these reforms have contributed to rate-filing reductions by dozens of property and auto insurers.
Tag: Florida
Florida’s Top Auto Insurers Indicate Average 8% Rate Decrease for 2026
According to the Florida Office of Insurance Regulation (OIR), these insurers represent approximately 78% of Florida’s auto insurance market.
Florida Property Insurance Assessment Scheduled to End Early in 2026
The Florida Insurance Guaranty Association voted to terminate the charge, which officials say could save policyholders across the state approximately $650 million.
Florida Reports Statewide Insurance Rate Reductions as Reforms Continue to Reshape Market
State officials said the rate relief reflects continued stabilization in Florida’s insurance market following insurance and tort reforms enacted in recent years.
OIR Issues $2 Million in Penalties Following Hurricane Claims Examinations
The Florida Office of Insurance Regulation has fined eight insurers a total of $2,075,000 for improper claims-handling practices after Hurricanes Ian and Idalia, underscoring its commitment to insurer accountability and consumer protection during hurricane season.
State of Florida Secures 15th Property Insurer Entering the Market Since Historic Legislative Reforms
Viceroy Preferred Insurance Company joins 14 other property and casualty insurers that entered Florida’s market since the passage of the state’s historic legislative reforms
Florida Peninsula Insurance Seeks Approval for Major Rate Cuts
Florida homeowners could soon see some financial relief as one of the state’s largest private property insurers looks to cut premiums.
Florida Legislative Leaders Shift Focus to Insurance and Affordability
On Tuesday, Florida’s new legislative leaders, House Speaker Danny Perez and Senate President Ben Albritton, both Republicans, delivered strong messages on affordability and the behavior of insurance companies, marking a notable shift from previous GOP stances.
Florida’s Insurance Market Crisis: A Growing Concern for Homeowners and Insurers Alike
Florida’s home insurance market is facing significant turbulence, creating an uncertain environment for residents and insurance providers alike.
Hurricane Helene’s Aftermath: What Florida’s Insurance Market Can Expect
With over 50,000 claims and more than $500 million in estimated damage, the impact is widespread, but experts suggest the storm might not be as devastating to Florida insurance companies as feared.