Florida homeowners insurance News

HCI Approved by Florida Regulator to Replace Anchor P&C Coverage for 43K Insureds

The Florida Office of Insurance Regulation has approved a plan for Homeowners Choice Property and Casualty Insurance Company, a subsidiary of HCI Group, to provide replacement policies for Anchor Property and Casualty Insurance Co. policyholders. The approved plan provides policyholders …

HCI to Acquire Policies of Florida’s Anchor P&C; Weston to Acquire Anchor Specialty

Two Florida-based homeowners insurers, Anchor Property & Casualty and Anchor Specialty Insurance, have succumbed to market pressures in the state and will be acquired by other companies. Tampa, Fla.-based HCI Group has entered into a preliminary agreement for its subsidiary …

Insurtech Kin Insurance Raises $47M to Launch Florida Homeowners Carrier

Kin Insurance, an insurtech startup focused on home insurance in catastrophe-prone regions, said it has raised $47 million in new venture financing to fuel expansion and a revamped business model. August Capital led the new financing round, which included contributions …

State Farm Cuts Homeowners Rates by 14.4% in Florida

State Farm has reduced its homeowners insurance rates by an average of 14.4 percent in Florida for current and future home insurance customers. The new rates went into effect May 15, 2019 for new business and July 1, 2019 for …

Florida InsurTech HoneyQuote to Offer Technology Platform to Business Partners

Digital insurance agency HoneyQuote.com launched a new partnership program that allows businesses across industries to use HoneyQuote services for customers to purchase homeowners insurance. As part of the program, businesses can add home insurance to their list of services through …

Florida Peninsula Insurance Launches Online Quoting for Homeowners Coverage

Florida Peninsula Insurance Company, a Florida homeowner insurance carrier, has launched a new online system offering homeowners insurance quotes to consumers. According to Clint Strauch, president of Florida Peninsula system allows Florida consumers to shop and compare coverage and price, …

Velocity Risk Underwriters Expands Coverage to Coastal Homeowners in Florida

Velocity Risk Underwriters has expanded its Florida home insurance products and is now writing coastal homeowners policies statewide. Velocity offers an A.M. Best “A” rated coastal homeowners program through Texas-based State National Insurance Company. Velocity had been writing home insurance …

Florida Supreme Court Rules Against Insurer in Concurrent Loss Case

The Florida Supreme Court has ruled in favor of policyholders seeking coverage on claims where there is the possibility of multiple concurrent losses but at least one of the losses is covered under their policy. Though the decision can have …

Florida Hurricane Fund Financially Sound, Ready for Storm Season

Florida’s continued lucky streak when it comes to dodging hurricanes is helping a key state fund reach its best financial shape ever in the two decades it has been in place. The state-created fund known as the Florida Hurricane Catastrophe …

Edison Insurance Launches Online Quoting System for Florida Homeowners Coverage

Edison Insurance Co. has launched an online quoting system that offers specific premium quotes for homeowners insurance coverage in Florida. According to Clint Strauch, Edison Insurance president and co-founder, Edison has developed a system that allows potential policyholders to obtain …