Tag: homeowners insurance market

Aon Benfield expects an upswing in the U.S. homeowners insurance market

H. Cutner
homeowners insurance

This indicates that home insurers could be aligned to start seeing improvements in their returns. According to Aon Benfield, the current trend of improvement overall in homeowners insurance returns for this year was, in part, driven by a boost in prospective levels in the rates for premiums, and that the improvements are likely to continue. The insurer also said that the estimated catastrophe ratio has experienced a notable decline. The reason that ratio has declined is that there have been updates implemented for the vendor catastrophe models that were utilized…

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Florida homeowners insurance rates continue to rise

S.Vagus
Florida Homeowners Insurance

Homeowners coverage continues to grow more expensive The Florida homeowners insurance industry is notoriously risky. Many insurers have chosen not to participate in the state market due to the liability they are exposed to, leaving homeowners to rely on state-run Citizens Property Insurance to find the coverage they need. One of the reasons that private companies are unwilling to participate in the Florida market is the frequency with which natural disasters hit the state. These disasters have caused home insurance rates to explode over the past several years, despite the…

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Homeowners insurance market in Florida may be stabilizing

Marc
Florida Homeowners Insurance

Florida’s homeowners insurance market may be calming down The homeowners insurance market in Florida is notorious throughout the U.S. for being somewhat volatile and unstable. The state is considered a very high risk zone to the homeowners insurance sector and has regularly fallen victim to natural disasters in the past. These disasters have created a sense of unease among homeowners insurance companies, many of whom are unwilling to do business in some parts of the state. There are signs that the homeowners insurance market is finally starting to stabilize, however.…

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New Florida law aims to address homeowners insurance concerns

Logan B.
Florida Homeowners Insurance

Florida’s homeowners insurance market continues to pose significant risks Citizens Property Insurance has been Florida’s last resort for homeowners insurance for several years. Property owners throughout the state rely heavily on the state-run insurance organization in order to receive the coverage they need. The homeowners insurance market in the state has been somewhat turbulent for years due to the disaster prone nature of Florida. Because Citizens Property Insurance accounts for the majority of homeowners insurance policies in the state, it is also liable for the majority of the financial burden…

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Largest private homeowners insurance company in Florida turning a profit

H. Cutner
homeowners insurance news florida

Universal flipped into the black when it saw a positive result from the fourth quarter. In the fourth quarter, the largest privately owned homeowners insurance company, Universal Insurance, flipped to a profit, showing considerable improvements over the year before. In 2011, the company had posted a loss of $2.3 million in the same quarter. For 2012, the homeowners insurance company, based in Fort Lauderdale, posted a net income of $4.4 million. It also saw its direct premiums written rise to $174.6 million during that last quarter, when compared to 2011…

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