News

Governor DeSantis signed several bills into law last week, including House Bill 989, the Chief Financial Officer’s general bill.

AM Best is revising the outlook for the London market insurance segment to Positive from Stable, owing to several key drivers.

The non-admitted insurance market is experiencing a property premium boom, and natural catastrophe exposed states are leading the charge but are by no means the only contributors in a hard market.

“We continue to see the commercial property market’s premiums exhibit a noteworthy surge in response to current market conditions,” said Mark Shealy, executive director of the Florida Surplus Lines Service Office. Commercial property premiums increased 41.7% to about $7.2 billion to now account for 46.5% of the market.