Effective date for new and renewal rates is September 01, 2022...
Florida’s property insurers off to a rocky start in 2022
The Sunshine State has seen four insurers become insolvent since the start of the year with Southern Fidelity Insurance being the most recent.
The Sunshine State has seen four insurers become insolvent since the start of the year with Southern Fidelity Insurance being the most recent.
Article / 9 days ago
Markets lose ground; Florida P&C carriers secure reinsurance for coming season
Insurance companies underperformed the broader market during the holiday-shortened week ending June 3, which was modestly negative for stocks. The S&P Insurance 500 index slid 2.27% to 557.96, while the S&P 500 dropped 1.20% to 4,108.54.
Insurance companies underperformed the broader market during the holiday-shortened week ending June 3, which was modestly negative for stocks. The S&P Insurance 500 index slid 2.27% to 557.96, while the S&P 500 dropped 1.20% to 4,108.54.
Article / 23 days ago
Florida property insurers wrestle with lower capacity, higher reinsurance costs
Major reinsurers are limiting their exposure to the turbulent Florida property market. In 2021, Florida primary carriers ceded $462.9 million to Berkshire Hathaway...
Major reinsurers are limiting their exposure to the turbulent Florida property market. In 2021, Florida primary carriers ceded $462.9 million to Berkshire Hathaway...
Article / 1 month ago
Catastrophe losses drop sharply YOY in Q1 for many big US insurers
Liberty Mutual reported the largest amount of losses during the quarter at $656 million, though that was down from $1 billion in the first quarter of 2021. Allstate was next with losses of $475 million, compared to $833 million a year earlier.
Liberty Mutual reported the largest amount of losses during the quarter at $656 million, though that was down from $1 billion in the first quarter of 2021. Allstate was next with losses of $475 million, compared to $833 million a year earlier.
Article / 1 month ago
Fate of Fla. property insurance market at stake as special session looms
Reinsurance programs and excessive litigation are among the issues to be addressed when lawmakers get together to tackle the Sunshine State's property insurance crisis...
Reinsurance programs and excessive litigation are among the issues to be addressed when lawmakers get together to tackle the Sunshine State's property insurance crisis...
Article / 1 month ago
UK-based parametric insurance company readies for US market launch
FloodFlash is already quoting for policies with minimum premiums of $100,000, and then plans to roll out its small business products in the U.S. later in 2022...
FloodFlash is already quoting for policies with minimum premiums of $100,000, and then plans to roll out its small business products in the U.S. later in 2022...
Article / 2 months ago
Future of another Fla. homeowners insurer in jeopardy after ratings downgrade
Demotech confirmed that it downgraded FedNat Holding's financial stability rating to S, Substantial, from A, Exceptional, after conducting a year-end review...
Demotech confirmed that it downgraded FedNat Holding's financial stability rating to S, Substantial, from A, Exceptional, after conducting a year-end review...
Article / 2 months ago
Losses mount for many Fla. property insurers in 2021
Full-year 2021 results show that 32 out of 47 residential property insurers in the Florida market recorded a net income loss...
Full-year 2021 results show that 32 out of 47 residential property insurers in the Florida market recorded a net income loss...
Article / 3 months ago
Fla. homeowners insurers see large unfavorable reserve development through Q3'21
Homeowners insurers focused on the Florida market collectively strengthened their prior-year loss reserves by $217.2 million during the first nine months of 2021...
Homeowners insurers focused on the Florida market collectively strengthened their prior-year loss reserves by $217.2 million during the first nine months of 2021...
Article / 4 months ago
Travelers, Allstate raise homeowners rates in December 2021
Travelers could enjoy a $78.6 million increase in total premiums from 36 homeowners rate hikes approved during the month...
Travelers could enjoy a $78.6 million increase in total premiums from 36 homeowners rate hikes approved during the month...
Article / 4 months ago
