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As Hurricane Ian approaches Florida, state regulators asked a judge to place FedNat Insurance Co. in receivership, making it the sixth Florida property insurer declared insolvent this year amid widespread financial problems in the industry.
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Angry at a ratings agency that raised the possibility of downgrading 17 Florida property insurers, state leaders could be poised to look for an alternative.
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The state-backed Citizens Property Insurance Corp. has surpassed 1 million policies for the first time since 2014. Citizens has been absorbing an influx of policies as private insurers drop customers and push for large rate increases.
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The home insurance market is broken with companies collapsing or leaving — raising costs and risks for homeowners.
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Gov. Ron DeSantis expressed confidence that a special legislative session will help stabilize Florida’s property insurance system, but the troubled market is taking another blow as a group of companies is poised to cancel more than 68,000 policies.
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After years of shrinking, the state taxpayer-backed property insurance company Citizens has been growing as private insurers lose money in Florida.
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On average, Policyholders with the state-backed insurer Citizens Property Insurance could see an 8.2 percent rate hike. Blaise Gainey reports the...
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The second largest home insurance company in Florida would have asked state regulators to raise premiums by 25 percent if it could have asked for a hike…
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Gov. Rick Scott on Sunday directed the state’s top insurance regulator to freeze any potential property-insurance rate increases for 90 days as homeowners…
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In the six weeks since Hurricane Irma first made landfall in Florida, almost 750,000 property insurance claims have been filed. Almost one out of every…
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