Its successes in reducing its insured population and securing low cost catastrophic coverage are driving the request by Florida’s state-backed property insurer for a statewide average 2.9 percent decrease on residential policies. Citizens Property Insurance Corp. officials in a public …
Florida’s top insurance regulator says that state residents are starting to benefit from a more competitive homeowners market as rates have started to trend downward due in part to the reduction in reinsurance costs. Florida Insurance Commissioner Kevin McCarty released …
Florida Chief Financial Officer Jeff Atwater wants to know why home insurers are not passing along to insureds apparent savings they are realizing on reinsurance. The state’s insurance regulator says he will let Atwater know next month. Atwater sent a …
It’s been nearly eight years since Hurricane Wilma raked the southern end of Florida and caused billions in damages, the last of eight hurricanes to hit the state in 2004 and 2005. Yet even as the state has been spared …
Some Florida legislators said this week they would consider giving the state’s largest property insurer more control over its rates, including allowing the company to raise rates to bolster its ability to pay claims. Members of a key House panel …
Florida regulators have approved a statewide average rate increase of 14.9 percent for Allstate ‘s Florida unit, Castle Key Insurance Co. The change will apply to Castle Key’s existing homeowners, renters and condominium policies. Also, Castle Key Indemnity Co. received …
Florida regulators have approved an average 6.9 percent rate hike for State Farm Florida Insurance Co., which is the insurer’s fifth increase in as many years. The insurer had initially sought an average 14.9 percent increase citing hurricane and underwriting …
Florida’s third largest property insurer is seeking a statewide average 14.9 percent increase in property rates as part of a plan to shore-up its fiscal condition while revamping the deductibles and discounts it offers to policyholders. State Farm Insurance Co. …
Facing protests from consumers and state officials, Florida’s state-run homeowners insurer has found itself defending a proposal to increase rates for new customers above a legislative cap placed on current business. Citizens Property Insurance Corp. officials floated the proposal last …
