Tag: florida reinsurance market

The Big Gamble Behind Florida’s Reinsurance Strategy

Tate Ellison
Florida’s Reinsurance Strategy

Florida’s Hurricane Reinsurance Cuts Ripple Through Private Markets—and the Politics Behind It Florida’s decision to slash its hurricane reinsurance funding stems from , which took effect on July 1st. This legislative move has left insurers scrambling and is expected to have far-reaching impacts on private reinsurance markets—not just within Florida, but beyond its borders. Lawmakers’ controversial decision, prompted by the provisions of House Bill 5013, sets the stage for significant changes in how risk is managed and distributed across the industry. Let’s unpack it. How Private Reinsurance Markets Are Feeling…

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Lloyd’s enters Florida’s reinsurance market on the heels of new law

Dan

Lloyd’s of London, one of the world’s leading insurance and reinsurance specialists, is entering Florida’s reinsurance market. The company joins several other reinsurance organizations flocking to the state to take advantage of a new law that reduces capital requirements for reinsurers. The law, first introduced in 2009 but only recently passed, is an attempt to attract more foreign reinsurance companies to do business in the state, thereby reinvigorating the somewhat stagnant market. Because of the law, Lloyd’s has been approved to do business in the state. According to the law,…

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