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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]
SB 348: Insurance Rebate Program for Low-Income Seniors Sponsor: Sen. Lauren Book, D-Davie The leader of the Senate Democrats is also pitching a program to help low-income seniors afford their ...
The crisis in the Florida insurance market. Florida has always been a complex home insurance market. Since 2017, eleven property and casualty companies that offered homeowners insurance in Florida ...
A 2021 analysis by then-Florida Insurance Commissioner David Altmaier found that Florida made up 8% of the nation’s homeowners’ claims in 2019, but 76% of its lawsuits.
Of the $165 billion in natural disaster–caused damage the U.S. experienced in 2022, $116 billion of it was in Florida. Average annual home insurance premiums are triple the national average ...
The Farm Credit System (FCS) in the United States is a nationwide network of borrower-owned lending institutions and specialized service organizations. The Farm Credit System provides more than $373 billion (as of 2022) [1] in loans, leases, and related services to farmers, ranchers, rural homeowners, aquatic producers, timber harvesters, agribusinesses, and agricultural and rural utility ...
The global trade association for the industry, the International Cooperative and Mutual Insurance Federation, claims 216 members in 74 countries, in turn representing over 400 insurers. [3] In North America the National Association of Mutual Insurance Companies (NAMIC) , founded in 1895, is the sole representative of U.S. and Canadian mutual ...
If Florida and the alarming property insurance trends nationwide are any indication, homeowners seeking affordable property insurance shouldn’t expect much help from state governments alone.