Farmers Insurance’s decision to stop writing new policies and not renew existing ones in Florida is adding fuel to the property insurance fire in the state. Though Farmers isn’t a major player in the state’s insurance market, the move could [...]
Adding insult to injury, Florida property damage insurance complaints rise in the wake of Hurricane Ian. It’s been nearly 10 months since Hurricane Ian ravaged Southwest Florida, resulting in more than 520,000 insurance claims. ABC Action News learned 15% of [...]
In the last couple of weeks, Farmers Insurance announced it will no longer write or renew homeowner policies in Florida and AAA confirmed it is also limiting property insurance policies. Over the past year, the high cost of severe [...]
Citizens Property Insurance is on track to hit 1.7 million policies by the end of the year. It’s more than triple the number of policies it managed just three years ago. Before the announcement from Farmers that they are [...]
Farmers is ending some policies in the Sunshine State as insurers struggle with the rising costs of covering climate change-related damage. No one can agree on whom to blame. Insurers are trapped in a riddle: In a world where [...]
Households in Florida, the third most populous state in the US, have been grappling for some time with a property insurance crisis that is making home ownership unaffordable for many. Climate change is threatening the very existence of some parts [...]
Hurricane Ian’s assault on southwest Florida last fall is driving out middle- and working-class people and replacing them with deep-pocketed buyers. In the waterfront cities of Fort Myers Beach and Cape Coral, even homeowners with flood insurance are finding [...]
Florida regulators are reminding carriers that the deadline to participate in the November round of takeouts from Citizens Property Insurance Corp. is fast approaching. Carriers must submit an application by July 28, the Florida Office of Insurance Regulation said in [...]
CoreLogic reports that severe thunderstorm activity from June 11-15 brought strong straight-line winds, record-sized hail, and tornadoes, causing substantial damage to property across the U.S. Wind speeds in excess of 100 miles per hour and hail greater than four inches in [...]
On June 12, the U.S. House of Representatives voted for legislation providing long-awaited relief to Florida citrus growers impacted in 2022 by Hurricanes Ian and Nicole. The bill awaits a vote in the Senate to make it law. Florida Citrus [...]
