by Brian Burgess | Oct 20, 2023
Hurricane Idalia’s actual insured losses in Florida are significantly lower than early projections, with current estimates at $269.3 million. Early predictions from data analytics firm Verisk had anticipated losses between $2.5 billion to $4 billion, primarily...
by Jim Saunders - News Service of Florida | Oct 16, 2023
Duke Energy Florida estimates storm-related costs of $91.9 million from Hurricane Idalia. The company is seeking approval to pass the costs to customers in 2024, spreading them out with earlier storm costs. Duke expects that spreading out the cost collection time...
by Brian Burgess | Oct 11, 2023
Florida lawmakers may take a “wait and see” approach to property insurance during the upcoming legislative session. At the same time, a new report finds experts doubtful that legislative changes will be enough to lower premiums. Experts cite three factors...
by Jim Saunders - News Service of Florida | Oct 5, 2023
Florida regulators approved six private insurers to take up to 153,000 policies from Citizens Property Insurance Corp. in an effort to reduce the state-backed insurer’s size. The approved insurers, including Slide, TypTap, Safepoint, Florida Peninsula, American...
by Brian Burgess | Oct 3, 2023
Florida Senators will examine the state’s property insurance market next week, seeking solutions for property owners and insurers. The hearing comes as Citizens Property Insurance Corp. continues to grow despite efforts to shift policies to the private market....
by Jim Saunders - News Service of Florida | Sep 28, 2023
Citizens Property Insurance Corp. expects a policy decrease to around 1.3 million by end of 2023 from earlier estimates of 1.5-1.7 million. This is due to efforts to shift policies to private insurers and no insurer insolvencies in Florida this year. Insurance...
