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The Florida property insurance market is in freefall, according to the Insurance Information Institute, and Southwest Florida isn’t immune from the consequences: People’s policies are being dropped with hurricane season starting in just two weeks. It’s tough for those who are currently looking for property insurance. WINK News spoke with the Florida Association of Public […]
Citizens Property Insurance opened a satellite location on Fort Myers Beach to bring insurance help right to people who are in a tough spot. In the middle of all the destruction, they’re nestled in the shade under the Bayfront Bistro and behind Publix. But, they’re gone in a couple of hours because not many people […]
After lawmakers this week passed an overhaul of the state’s property-insurance system, Florida Insurance Commissioner David Altmaier on Thursday submitted his resignation to Gov. Ron DeSantis. Altmaier, who made the resignation effective Dec. 28, has been Florida’s top insurance regulator since 2016. The letter did not detail his future plans. “Under your leadership, we have […]
Florida lawmakers last week made changes that will provide “much-needed relief” in the troubled property-insurance system, but the effects of the legislation won’t be immediate, the AM Best financial-rating agency said in a new report. The report pointed to parts of the new law designed to curb litigation, which insurers have long blamed for driving […]
Florida has taken action to back up property insurance companies facing a downgraded rating in an effort to help thousands of homeowners comply with mortgage requirements rather than being forced to seek new policies. The state-created Citizens Property Insurance Corp. will provide reinsurance for 17 companies that the rating company Demotech has said will be […]
Supporters said the plan will stabilize the property-insurance market. Critics said it doesn’t do enough to help homeowners. But with hurricane season starting next week, Florida House members overwhelmingly gave final approval Wednesday to a measure that seeks to stem property-insurance problems that have led to policyholders across the state losing coverage and seeing soaring […]
The state-run Citizens Property Insurance Corporation is seeing a flood of new customers after private insurance companies pulled out of Florida, leaving thousands needing repairs for Hurricane Ian’s damage.
A poll sent to Florida lawmakers to initiate a special session on property insurance failed, but Governor Ron DeSantis is calling one anyway. Homes in Florida are beautiful, but they do not come cheap to insure. “Yeah, look, I think this has had has hit critical mass, it is absolutely a crisis. I mean, I […]
Florida’s property insurance crisis is getting worse after tens of thousands more homeowner policies get canceled. It’s happening one week before lawmakers are coming back together to find a solution. FedNat Insurance Group is downgrading to survive. Experts say last year’s ice storm in Texas and Hurricane Ida in Louisiana hit the company hard. On […]
The Florida Legislative session has ended without major legislation to help Floridians who are still struggling to find real relief from rising insurance rates and a lack of affordable housing. With palm trees, green grass and the glow of the Florida sun, homes in the sunshine state are beautiful, but they cost an unbelievable amount […]