December 4, 2024
Despite continued uncertainty over the future of federal tax rules on micro-captive insurance companies, the instruments seem to be increasingly popular for small businesses, especially in Florida, where rates for traditional commercial insurance have soared in recent years. SRA 831(b) …
August 15, 2023
Florida’s property insurance market is showing more signs of life, with another company requesting a large takeout order from Citizens Property Insurance and two new companies entering the arena. Tampa-based HCI Group’s CEO Paresh Patel said in an earnings call …
July 28, 2023
Efforts by Universal Insurance Holdings, the publicly traded parent company of one of Florida’s largest property and casualty insurers, to shed policies, spread risk and raise rates appears to have paid off so far in 2023. And recent legislative changes …
May 24, 2023
With the June 1 reinsurance renewals a week away, the outlook for Florida-based property insurers may not be quite as dire as many had predicted earlier this year, at least according to a top official with one of the world’s …
February 28, 2023
A Florida tort-reform bill that picks up where previous insurance-market rescue bills left off has passed its first milestone and now moves to the full House Judiciary Committee. But the speaker of the House said the measure is far from …
February 27, 2023
Universal Insurance Holdings Inc. (UVE), parent company of Universal Property & Casualty Insurance Co., last week reported net income of $25.1 million in its fourth quarter, a sharp increase from the previous quarter. On a per-share basis, the Fort Lauderdale, …
February 20, 2023
Just days after some 90,000 policies from troubled United Property & Casualty Insurance Co. were transferred to Slide Insurance as part of a wind-down of the carrier, it was announced that UPC is officially broke and will soon be liquidated. …