Florida’s property insurance market has significantly strengthened following 2022 legal reforms, with domestic insurers posting strong financial results and drivers beginning to see rate relief. Insurance costs are now 14.5% lower than projected without reforms.
property insurance
Universal Insurance Gets Credit Boost in Florida
KBRA assigns BBB credit rating to Universal Insurance Holdings as the company prepares to refinance $100 million in debt. The rating reflects improving conditions in Florida’s property insurance market and Universal’s financial recovery.
New Storm Protection Tools Cut Insurance Claims
Two Florida companies have introduced innovative storm protection products that could help property owners reduce damage and insurance claims. Flood Risk America launched new flood barriers while Tarpers created nail-free roof tarps.
California FAIR Plan Gets New Coverage Options
Amwins and Vivere launched wrap coverage for California FAIR Plan members, offering additional limits up to $100 million for commercial properties and $3 million for homes. The product aims to help property owners who’ve been forced into the state’s insurer of last resort.