Insured losses from Hurricane Debby increased to $122 mn in Florida
Florida reported $121.5mn in estimated insured losses from Hurricane Debby, with 59.6% of claims closed, according to the Office of Insurance Regulation
🇺🇸 Florida Insurance News
Hurricane Debby caused $90 mn in insured losses in Florida
Hurricane Debby caused $90 mn in insured losses, according to an initial estimate from insurers to the Florida Office of Insurance Regulation
Florida Department of Insurance approved 410,628 property insurance policy takeout requests
Citizens Property Insurance Corp. will reduce its business after Florida Insurance Commissioner Michael Yaworsky approved 410,628 policy takeout requests
Florida’s insurance market continues to strengthen in 2024
Florida insurance market continues to strengthen, showing signs that recent legislation is having positive impacts on property and casualty insurance market
National Flood Insurance Program secured $575 mn in reinsurance from ILS
U.S. Federal Emergency Management Agency has reinforced its dedication to enhancing the National Flood Insurance Program by securing $575 mn
Florida’s property insurers are taking a cautious approach
Florida’s residential property insurers are taking a cautious approach when estimating how industry reforms passed in late 2022
Florida’s insurance market experienced difficulties – insurers decreases coverage
Florida’s insurance market has experienced difficulties in recent years, with some private insurers becoming insolvent, and others choosing to halt coverage
Larger P&C insurers in the Florida are likely to benefit from new reforms
Larger property and casualty insurers in the Florida market are likely to benefit from recently enacted tort reforms, and it remains to be seen how those changes
Florida’s Homeowners Insurers are Facing Fraud Schemes & Underwriting Losses
An issues brief published by the Insurance Information Institute has affirmed that the turmoil in Florida’s homeowners insurance market is due to fraud schemes
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Insurers enter 2026 with longer settlement cycles, rising volumes, and slow AI adoption, increasing costs and operational risk, AutoRek finds
Global insurance M&A stabilised, as insurers and brokers took a more strategic approach to acquisitions amid falling interest rates and a realignment of strategic priorities
U.S. life insurers posted modest Prism score gains, with resilient capital strength despite rising annuity volumes and investment risk pressures
Health insurance is an integral part of employee benefits packages in the United States. However, any employer federally required to provide this compensation could admit that their costs can be burdensome