citizens property insurance

The state-run company is giving customers until Oct. 10 to either accept or decline an offer to switch to the private market, which will help lower the insurer's risk exposure.

Farmers is the latest insurance company to pull out of Florida. The moves leaves tens of thousands of customers facing the daunting task of finding new carriers.

The Florida House has passed sweeping legislation that would overhaul the state’s property insurance system, which has struggled due to insolvencies, high costs and major storms.

It comes as private insurers have shed customers and sought rate increase due to financial troubles.

Governor Ron DeSantis signed into law Thursday two bills proposed during the special legislative session that was held this week to address the state's troubled property insurance system.

The state legislature has added condo building reform to this week’s special session on property insurance. Lawmakers faced pressure to overhaul current laws after a deadly building collapse in South Florida last year, but the two chambers failed to reach a compromise during the regular legislative session.

Florida lawmakers began moving forward Monday with a plan to try to bolster the state’s troubled property-insurance market, but homeowners shouldn’t expect immediate relief from soaring premiums.

The home insurance market is broken with companies collapsing or leaving — raising costs and risks for homeowners.

Legislators are heading back to Tallahassee soon to talk about rising property insurance policy rates. Plus, the Camillus House has a new program to help families learn how to cook healthy meals that are not expensive. And we speak to the director behind a new documentary about the late South Florida rapper XXXTentacion.

Florida lawmakers will return to the Capitol the week of May 23 to address problems in the property insurance system that have led to homeowners losing coverage and facing soaring premiums.

For a special session to be held, Jeff Brandes, R-St. Petersburg, would need to get support from three-fifths of the members of both legislative chambers.

Insurance regulators took up a request by Citizens Property Insurance Corp. to raise rates by nearly 11%. The requested increase aims to reduce the gap between the rates of Citizens and private insurers.