February 3, 2025
Brand new Florida home insurer Mangrove Property Insurance Co. has received a Financial Stability Rating (FSR) of “A, Exceptional” from Demotech, Inc., a financial analysis firm that specializes in rating regional and specialty insurers. As previously reported by Insurance Journal, …
December 19, 2022
Florida Gov. Ron DeSantis signed a sweeping property insurance bill on Friday. How much and when it will work to stabilize the stormy market are among the questions being asked. One of the key goals of the legislation is to …
December 21, 2021
When the Florida insurance world heard that a newly formed homeowners’ insurance carrier was stepping into the troubled Florida waters, reactions ranged from cynical to apoplectic. Few people have given the new company, known as Vyrd Insurance, very good odds …
June 1, 2021
A bill passed by the Florida Legislature to address the state’s property insurance crisis has created optimism among some stakeholders, while others say it will not reduce rates over the next 18 to 24 months or stop the state’s out-of-control …
May 12, 2021
More than 50,000 Florida policyholders will soon be looking for a new carrier for their homeowners insurance after three Florida-based companies were approved by the state regulator to drop the policies. The moves come just a few weeks before the …
November 18, 2020
After a tumultuous year that included double-digit rate increases, an intervention by the state regulator and a merger, Florida-based insurer Southern Fidelity Insurance Co. (SFIC) and its affiliated entities have ceded a majority stake in ownership to Hudson Structure Capital …
October 30, 2020
The Florida Office of Insurance Regulation is monitoring the state’s property insurance situation that is seen as in a crisis by those in the industry. The regulator said the insurance market has been buffeted by multiple hurricanes in the last …
October 29, 2020
After years of warnings that the Florida property insurance market was heading towards an availability crisis, many in the industry say the moment of reckoning has arrived. They blame unchecked claims litigation from non-catastrophe water losses and rising reinsurance rates …
August 8, 2017
Thousands of property owners in one Florida County will be in newly created flood hazard zones later this year, and that means they’ll be required to buy flood insurance for the first time. The Palm Beach Post reports the Federal …
August 25, 2015
After almost a year of month-to-month declines, new foreclosure starts in Florida rose in July. The research firm Realty Trac reported last week that foreclosure starts increased 16 percent in July from the previous July. Florida had the nation’s highest …