Property insurance

the parent company of Heritage Property & Casualty Insurance Co. said Tuesday it is looking to resume writing new coverage in Florida.

The proposal in part, would lead to an average 13.5 percent rate increase for the most common type of Citizens insurance policy.

Florida property insurers found better prices and more availability when purchasing reinsurance coverage.

Citizens Property Insurance Board of Governors backed a proposal for customers to see double-digit rate increases in 2025.

Citizens Property Insurance had a nearly 13,000-customer decrease last week as private insurers could take policies through “depopulation.

Gov. Ron DeSantis approved $200 million to continue a popular home-hardening grant program.

Florida lawmakers and insurance industry officials say changes, such as steps to reduce costly litigation, are helping the market rebound.

A federal judge has rejected a request by Florida & other states for a preliminary injunction to block changes to the National Flood Insurance Program.

Republicans are more likely to blame the federal government for high insurance costs while Democrats are more likely to blame the state.

Florida regulators approved proposals by three private insurers to take 54,386 policies from the state’s Citizens Property Insurance.

Citizens Property Insurance had 1,260,777 policies in Florida as of Friday, up from 1,255,381 a week earlier,

The request raises questions about climate risks & whether the federal government could be asked to bail out Citizens in a major hurricane.