State Farm announced on July 13 it would recommit to providing property insurance to Floridians. The decision came just one day after one of its competitors announced its exit from the state. “State Farm plans to continue our substantial presence in the Florida insurance marketplace. Our current plans include a commitment to responsible growth so…
Some Property Insurance Companies Remain Committed to Florida This Hurricane Season
State Farm announced on July 13 it would recommit to providing property insurance to Floridians. The decision came just one day after one of its competitors announced its exit from the state. “State Farm plans to continue our substantial presence in the Florida insurance marketplace. Our current plans include a commitment to responsible growth so…
AAA Becomes Latest Insurer Limiting Coverage in Florida
The American Automobile Association (AAA) said that it will not be renewing home insurance policies for a small number of its Florida customers due to increased risk associated with extreme weather events as well as insurance fraud and abuse. A spokesperson for AAA told The Epoch Times in an emailed statement that its Florida-based business…
Hurricane Ian Blows More Ill Winds Towards Florida’s Distressed Property Insurance Market
Florida’s property insurance market was distressed before Hurricane Ian appeared on the radar with the state’s 6.2 million homeowners paying at least three times more than those elsewhere in the United States spend on coverage, according to the Insurance Information Institute. After the massive, slow-moving storm punches its way through the state, analysts fear property…
7 Types of Insurance You Need to Protect Your Business
By John Boitnott From the day an entrepreneur starts a business, he exposes himself to certain risks. Even before the first employee is hired, a business is at risk, making it important to have the right insurance in place. One lawsuit or catastrophic event could be enough to wipe out a small business before it even…
DeSantis Will Call Back Lawmakers for Second Special Session to Address Property Insurance Problems
Florida Gov. Ron DeSantis (R) announced April 18 that he will call state lawmakers back for a second special session in May “to bring some sanity and stabilize” the property insurance market. In the past several years property insurance rates have soared in Florida and some owners have had their policies canceled, or have had…
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