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Nationwide, property insurance premiums rose 34% between 2017 and 2023, and they continued to rise in 2024 across much of the country. Why is this happening? One common thread: Climate change is fueling more severe weather, and insurers are responding to rising damage claims.
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The insurance turmoil caused by climate change — which had been concentrated in Florida, California and Louisiana — is quickly spreading to the Midwest.
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Insolvency means that a company cannot pay its bills today. That’s not so for Citizens Property Insurance Corp., Florida’s state-backed insurer.
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A look at the economic impact of the Florida PACE funding program, which gives commercial and residential property owners financial options for energy efficient and hurricane resistant home improvements.
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Florida Insurance Commissioner Michael Yaworsky provides tips to Floridians who face challenges with homeowners insurance.
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Florida leaders have long sought to shift policies from Citizens into the private market, in part because of financial risks if the state gets hit by a major hurricane or multiple hurricanes.
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Gov. Ron DeSantis has signed multiple bills that could lead to lower premiums in the future. For now, Florida homeowners face the highest insurance bills.
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AAA says it won’t renew a small percentage of homeowner and auto insurance policies in hurricane-wracked Florida, joining other insurers in limiting their exposure in the state.
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We look at the ongoing property insurance crisis in Florida and what lawmakers are trying to do to fix it. How the national baby formula is affecting families in South Florida. And an intentional shipwreck that’s helping coral reefs thrive.
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Legislation proposed by Florida lawmakers for an upcoming special session to reform the state’s property insurance market would create a $2 billion reinsurance fund and prohibit insurers from automatically denying coverage to homeowners’ with older roofs.
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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.
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Sen. Jeff Brandes, a Republican from St. Petersburg, didn't wait for Gov. Ron DeSantis or Legislative leadership to line up lawmakers for a special session on property insurance.