Important Update: Florida Counties' Eligibility for Architectural Shingle Roofs

If you’re a homeowner in Florida, you know how crucial it is to have a strong and well-maintained roof to shield your home from the unpredictable weather that Florida is known for.

Certain counties in Florida are being affected by recent modifications to ...

Hippo pauses all new business countrywide.

Recently Hippo shared that it is pausing all new business countrywide “effective immediately.”

*Due to significant weather-related events, Hippo reported a net loss of $108 million for the quarter. This is higher than the $74 million loss they experienced during the same timeframe the previous ...

Last week I attended a meeting with Citizens Insurance management and some agents. We discussed how Citizens is positioning itself to help and serve the Florida Insurance market and the consumer, us.

Here are some points that I thought it would be interesting

Flood Insurance Requirement

1. All existing personal residential ...

Late last week, the Florida Office of Insurance Regulation (OIR) approved a filing intended to reduce roof claims from wear and tear, poor workmanship, and design issues unless a named storm caused the damage.

Over the past few Legislative Sessions, legislative members have attempted to address the “free roof pandemic” through many measures, ...

Effective 05/26/2023 Velocity will cease writing new business and will begin the process of exiting all homeowner programs.

Another carrier is leaving Florida. Where does this end?

Velocity Risk Underwriters, LLC. After careful consideration and evaluation of various factors, we have made the difficult decision to permanently ...

The Florida Home Insurance market has recently experienced a significant shift, with People's Trust Insurance Company ceasing to accept new business applications, and Monarch Insurance Company taking over some policies from Citizens. As a result, many are concerned we are still out of the danger zone yet.

I share these concerns and hope that ...

FIGA Approves 1% Emergency Assessment for All New and Renewal Policies Beginning October 1, 2023.

This assessment is necessary to provide funds to pay covered losses for the liquidation of UPC. The OIR issued an assessment ...

The rates for reinsurance have gone up 100% in the last four years, and experts are projecting another 50% hike by June 1.

And when these go up, insurers will pass some of the burden to consumers.

Until reinsurers can regain confidence in the Florida market following reckless litigation and fraudulent roofing practices, rate increases ...

Last two weeks were not any better than the previous months. While the new legislation is settling, the damage prior to the legislation is still hurting the few remaining insurance carriers.

🟡 VYRD Insurance Limiting new policies to a few zip codes. Total value of the accepted policies are decreased too.

🟡 kin. Insurance Kin has secured ...