Florida property insurance special session set to tackle crisis

Florida property insurance - Crisis
Long term care insurance premiums a...
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Governor Ron DeSantis is calling lawmakers back in May to take on the market’s critical health. State Governor Ron DeSantis has announced that he will be calling a special Florida property insurance session in May, bringing lawmakers back to work to try to repair the worst components of the crisis. Atlantic Hurricane Season is rapidly approaching and the homeowners policy market is in a critical state. With Atlantic Hurricane Season about to start on June 1, the governor is holding a special legislative session in May to take on the…

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Florida home insurance companies withdraw, spurring lawmakers to act

Florida home insurance - Withdrawing Insurance

Homeowners’ rates have been spiking in the state and lawmakers are working on a plan. Florida home insurance companies have been hiking rates, cancelling policies or simply leaving the state, sending lawmakers to scramble to get the situation under control. State lawmakers are working on a plan to help control rates and keep insurers from withdrawing. According to Florida home insurance companies, fraud and excessive litigation are forcing them to leave the state’s market. Only last Tuesday, Lighthouse Property Insurance announced that it wouldn’t be writing any more new homeowners’…

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Citizens Property Insurance to shed more policyholders

Florida homeowners insurance, Citizens Property

Five more insurers in Florida have now been approved to take on the homeowners policies of the state-backed giant. In recent property insurance news, state regulators have now given their approval to five homeowners insurers based in the state in order to give Citizens the opportunity to unload up to 132,441 more policies. Citizens will start to shift more of its homeowners policies outward to those insurers, beginning in February. This will help Citizens to be able to better pursue its goal of removing as many property insurance policies as…

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