Farmers Insurance has confirmed it has halted sales of new homeowners policies in Florida just as the new hurricane season is getting underway. The insurer cited rising costs as the reason. “With catastrophe costs at historically high levels and reconstruction …
As Citizens Property Insurance, Florida’s state-created insurer of last resort, works to reduce its exposure, officials there may take heart from three court rulings handed down this week. A fourth decision, however, could end up costing the insurer significantly. In …
The Citizens Property Insurance Corporation’s Board of Governors approved rate adjustments that will raise average premiums by an additional 2.3% in February 2022. The board for the state-backed insurer unanimously voted in favor of the rate increases, which head to …
Florida Gov. Ron DeSantis said that he will sign recently-passed legislation addressing property insurance costs and roofing contractor practices while adding that he believes that the state needs to do more to curb excess litigation and improve the insurance market. …
Kin, an insurance technology company, has launched its landlord insurance plans in the Florida market. Kin’s landlord insurance applies to property owners who rent out their detached homes and townhouses. It also covers investors who rent properties on Airbnb. This …
The Florida Office of Insurance Regulation has approved a plan for Homeowners Choice Property and Casualty Insurance Company, a subsidiary of HCI Group, to provide replacement policies for Anchor Property and Casualty Insurance Co. policyholders. The approved plan provides policyholders …
Two Florida-based homeowners insurers, Anchor Property & Casualty and Anchor Specialty Insurance, have succumbed to market pressures in the state and will be acquired by other companies. Tampa, Fla.-based HCI Group has entered into a preliminary agreement for its subsidiary …
Kin Insurance, an insurtech startup focused on home insurance in catastrophe-prone regions, said it has raised $47 million in new venture financing to fuel expansion and a revamped business model. August Capital led the new financing round, which included contributions …
State Farm has reduced its homeowners insurance rates by an average of 14.4 percent in Florida for current and future home insurance customers. The new rates went into effect May 15, 2019 for new business and July 1, 2019 for …
Digital insurance agency HoneyQuote.com launched a new partnership program that allows businesses across industries to use HoneyQuote services for customers to purchase homeowners insurance. As part of the program, businesses can add home insurance to their list of services through …
