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While the agent collects commissions, they do not collect a salary from the companies they represent. On average, independent agents work with thirteen property and casualty and six life and health insurance companies on a regular basis. [7] Independent agents own and control their accounts, policy records, and renewals.
Florida officials want to move Citizens policies into the private market due to the financial risks associated with major hurricanes. The state is grappling with an insurance crisis, with costs ...
In insurance policies, an additional insured is a person or organization who enjoys the benefits of being insured under an insurance policy, in addition to whoever originally purchased the insurance policy. [1] [2] [3] The term generally applies within liability insurance and property insurance, but is an element of other policies as well. Most ...
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]
Florida Gov. Ron DeSantis last week signed into law a property insurance bill aimed at lowering the state’s skyrocketing homeowners insurance costs and staving off a looming crisis.
Florida has lost some form of home coverage from over 30 insurance providers in the past three years. The crisis in the Florida insurance market. Florida has always been a complex home insurance ...
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