News
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Both Admitted and Non-Admitted Markets Grew by More than 42% Last YearJul 16, 2024
Florida's commercial property market grew by more than 42% across admitted and non-admitted markets in 2023, the Florida Surplus Lines Service Office reported in a whitepaper released Monday. -
Casualty Market to Remain Disciplined Through the End of 2025Jul 11, 2024
Anthony McKelvy, co-founder and Managing Partner of Cayman Islands-based Northern Re, anticipates the casualty market to remain disciplined through the end of 2025. -
Will Stabilizing Florida's Home Insurance Market Help Flood Insurance Take-Up?Jul 11, 2024
Homeowners' insurance rates are set to increase again -
Intense Hurricane Season Could Translate Into ‘Expensive Year’ for American InsurersJul 11, 2024
Insurers in the United States may need to brace for a significant amount of loss costs this year due to the degree of severe weather events expected, according to the experts. -
New to Flood Insurance? Some say It's Becoming 'Almost Completely Unaffordable'Jul 11, 2024
Thousands are now officially in a flood zone according to new FEMA maps. Those affected will have a deadline of Dec. 20 to find flood insurance coverage. -
Condo Buildings With Uninsurable Roofs to Get Citizens' Coverage as They Pursue ReplacementJul 11, 2024
Citizens staff proposed that high-risk buildings would be eligible offered coverage only if a roof replacement contract was in place, with a deposit paid. Insuring them during the transition period. -
Citizen Board Cites Legislative Compliance in 13.5% Rate IncreaseJul 10, 2024
The Citizens Property Insurance Board of Governors outlined an average rate increase of 13.5 percent for 2025 on Wednesday in order to maintain financial stability and adhere to legislative requirements. -
Florida Excess, Surplus Lines Volume Up 12% in H1Jul 5, 2024
Despite a slowdown in March and June, Florida’s excess and surplus lines market premium volume totaled $9.7 billion in the first half of 2024, up 12% on the prior-year period. -
North Carolina, Florida Home Sellers Facing New Flood Disclosure RequirementsJul 2, 2024
As of this week, home sellers in North Carolina must now disclose previous flood damage to properties. And come Oct. 1, Floridians must make similar disclosures, potentially boosting the demand for flood insurance. -
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Independent Agencies Hold Strong Amid Hard MarketJun 28, 2024
Big "I" report shows stability—and even growth—in 2024. -
AM Best Assigns Ratings to Securian Financial’s Newly Launched Surplus Lines Insurance FirmJun 27, 2024
Credit ratings agency AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Securian Specialty, with the outlook assigned to these ratings being stable. -
Florida's Insurance Market is About to be UpendedJun 21, 2024
The rules around selling policies for Florida's state-backed insurer of last resort Citizens Property Insurance Corp. are about to change as a bill signed into law by Governor Ron DeSantis last month comes into effect on July 1. -
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House Bill 989 Signed by GovernorMay 7, 2024
Governor DeSantis signed several bills into law last week, including House Bill 989, the Chief Financial Officer’s general bill. -
