Florida’s property insurance market showed its clearest improvement in a decade, with the state’s share of US homeowners claims falling to 4.9% and lawsuits dropping to 41.3%
Atlantic hurricane season ended on November 30, marking a year of above-average storm activity and substantial insured losses in the U.S.
Home insurance premiums in Florida rose at a much lower rate than originally projected in 2023 (80% less) and 2024 (60% less)
Florida’s reinsurance market, after three years of significant rate hikes, saw a pause in 2024. Reinsurers viewed the outcome positively
Reinsurance market — a critical piece of Florida’s property-insurance system — is improving as Florida insurers try to bounce back
Florida Hurricane Catastrophe Fund plays a vital role in Florida’s property-insurance system as it provides relatively low-cost reinsurance
The natural disasters demonstrate that economic factors, in the last two years augmented by inflation, are the main driver of elevated insured losses from natural catastrophes
Insurers in Florida are currently barred from non-renewing or canceling policies, under an emergency order issued by the state’s Insurance Commissioner
Because of significant exposure growth, the impact of social inflation, and climate change complications, Florida’s insurance market could struggle to respond to a repeat of a Category 5 hurricane
