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The Florida Insurance Guaranty Association board met on March 31 and filed for an emergency assessment of 1% on all Florida property insurance policies. [32] That is in addition to a 0.7% for 2022, a 1.3% assessment from July 1 2022 to June 30 2023, and another 0.7% ending December 31 2023. [32]
In 1820, there were 17 stock life insurance companies in the state of New York, many of which would subsequently fail. Between 1870 and 1872, 33 US life insurance companies failed, in part fueled by bad practices and incidents such as the Great Chicago Fire of 1871. 3,800 property-liability and 2,270 life insurance companies were operating in ...
The Insurance Regulatory Information System (IRIS) is a database of insurance companies in the United States run by the National Association of Insurance Commissioners. IRIS is designed to provide information about insurers' financial solvency .
The Citizens Property Insurance Corporation, a state-established insurance nonprofit company, has a $100 million annual legal defense fund and 20,000 open lawsuits pending, reports III.
Florida's state-funded insurer, Citizens Property Insurance, has become the top insurer for the state after taking on policies ceded by other companies that have pulled back or left the state.
Since 2017, eleven property and casualty companies that offered homeowners insurance in Florida liquidated. Five of those companies liquidated in 2022, and United Property & Casualty Insurance ...
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