Regulators have approved another new property insurer for the Florida market – Vision Insurance Exchange – led by former Florida Peninsula Insurance CEO Roger Desjadon.
The Cape Coral-based Vision is the 15th property-casualty firm to set up shop in Florida since state lawmakers approved landmark changes that have reduced what many in the industry had called excessive and frivolous claims litigation.
Desjadon was one of the more vocal advocates for reform leading up to the 2022 and 2023 legislative sessions that ended assignments-of-benefits agreements and one-way attorney fees.
“I think it’s beyond just urgent, it’s desperate, frankly. If you were to look at the rate increases that have been going in for the industry, there’s a reason for that and that reason is because all of these cases, the lawsuits, the overinflation of claims have gotten totally out of hand,” Desjadon told Insurance Journal in 2021.
The exchange was granted a certificate of authority this month. As several new Florida insurers have done in recent years, Vision will participate in takeouts of policies held by the state-created Citizens Property Insurance Corp.
The firm’s website notes it was “built by independent agents” and will offer homeowners coverage in most Florida counties, the Florida Office of Insurance Regulation and local news reports indicated.
Mark Berset, who was at one time the CEO of Comegys Insurance, is chairman of the Vision exchange oversight committee, Desjadon said Tuesday. Ronald Scalzo Jr., previously with Flagler Insurance Agency, according to his Linkedin page, is chief operating officer. Frank Lattanzio is chief financial officer. The OIR consent order can be seen here.
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