property insurance

Florida regulators have announced a stopgap plan to try to make sure homeowners can maintain property insurance coverage. The plan involves the state’s Citizens Property Insurance Corp. acting as a financial backstop.

Insurance Commissioner David Altmaier and state Chief Financial Officer Jimmy Patronis questioned the ratings agency, Demotech, Inc., and warned that such widespread downgrades could affect homeowners across the state.

Gov. Ron DeSantis has approved new laws the state hopes will calm a chaotic property insurance market, and eventually lead to rate decreases for homeowners. But some lawmakers and industry analysts say they worry the packages don’t deliver relief fast enough and don’t go far enough for property owners to see a difference.

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.

Florida would require statewide recertification of condominiums over three stories tall under a bill sent Wednesday to Republican Gov. Ron DeSantis by lawmakers, their legislation a response to the Surfside building collapse that killed 98 people.

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.

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.

Insurers blame questionable, if not fraudulent, roof-damage claims for driving up costs.

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

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.

Property insurance rates are skyrocketing and Florida lawmakers promise action.