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Florida plans to backup property insurance companies facing downgradeFlorida has taken action to back up property insurance companies facing a downgraded rating in an effort to help homeowners comply with mortgage requirements rather than being forced to seek new policies.
One of the biggest takeaways so far from special session: There’s no quick and easy fix to property insurance crisisLawmakers are trying to find a way to lower home insurance premiums for Floridians.
Florida insurance bills clear committee, move to SenateThe Florida Legislature on Monday began a special session focused on fixing the state's turbulent property insurance market.
Florida lawmakers to begin special session about property insurance ratesThis is happening while home insurance rates, home values and construction costs are going up.
Property insurers seek hefty rate hikesRoof-damage claims. Lawsuits. Reinsurance costs. For tens of thousands of homeowners, those issues could add up to large property-insurance rate increases if state regulators sign off on proposals presented Tuesday.
Florida property insurance industry still in a state of crisisThe Florida property insurance market is still in a state of crisis, suffering a nearly $1 billion loss in 2020 alone.
Watchdogs warn ‘hurricane tax’ could drive up insurance ratesTax watchdogs are sounding the alarm about a provision in President Joe Biden’s proposed tax plan that they’re calling a “hurricane tax.”