Florida homeowners insurance News

Florida’s Federated National Raises $40M in IPO

Federated National Holding Co., a Florida-based property/casualty insurer, announced the closing of its public offering of 2,358,975 shares of its common stock, which includes 307,692 shares sold pursuant to the exercise of the 30-day option granted to the underwriters to …

Federated National Launching Another Florida Home Insurer, Monarch National

Florida homeowners’ insurer Federated National Holding Co. and the Canadian bank and investment manager C.A. Bancorp Inc. have agreed to form a new Florida-based homeowners insurance carrier to be named Monarch National Insurance Co. Both FNHC and C.A. Bancorp are …

Florida ‘Hurricane Tax’ Sent to Early Retirement

A1.3 percent surcharge on most property/casualty policies in Florida to help pay for past hurricane claims is coming to an end earlier than originally planned. The Florida Cabinet voted this week to end the assessment on policyholders that was begun …

United Insurance to Acquire Florida’s Sunshine State Insurance

United Insurance Holdings Corp. (UPC) has agreed to acquire 100 percent of Sunshine State Insurance Co. (SSIC), a Florida domiciled property/casualty insurance company. SSIC, based in Jacksonville, Fla., offers homeowners, dwelling fire and federal flood insurance through 500 independent agents …

State Farm Wants to Increase Homeowners Business in Florida… a Bit

One of Florida’s largest homeowner insurers has announced it will once again begin writing new business in the state, just several years after canceling a substantial portion of its book of business. State Farm Florida announced it has plans to …

Homeowners Choice Sells First Flood Policy in Florida

Homeowners Choice Property & Casualty Insurance Co., Inc., a Florida based provider of admitted homeowners insurance and wholly-owned insurance subsidiary of HCI Group, Inc., is now selling flood insurance to existing customers in Florida. Many Florida residents have seen a …

Report Casts Light on High Cost of Homeowners Insurance in Florida

Floridians are paying the highest homeowner insurance rates in the nation even though the state has not been hit by a hurricane in nearly a decade. A national report shows the average premium for most Florida homeowners is $1,933 a …

Florida’s Citizens Has New Plan to Shift 200,000 Policies to 8 Private Insurers

Florida’s largest insurer could be shifting thousands more of its policyholders away from the state-created company and into private insurance companies. The head of Citizens Property Insurance Corp. announced Friday that as many as 200,000 customers from across the state …

Florida Approves 6.3% Increase In Citizens Homeowners Rates

Florida homeowners who secure coverage through the state-backed property insurer will see their rates increase by a statewide average 6.3 percent based on a ruling by state regulators. Homeowners with multiperil policies will see a 4.4 percent increase – or …

Florida’s Citizens Makes Case for Homeowners, Sinkhole Rate Increases

Florida’s state-backed property insurer is seeking a statewide average 6.6 percent increase in homeowners’ rates and a 24.8 percent increase in sinkhole rates while citing reduced losses and an improved financial position. Citizens Property Insurance Corp., which insurers 1.2 million …