Florida

Since 2020, the number of properties it insures has tripled to almost 1.4 million. Citizens estimates it may add another 300,000 by the end of the year

Yellen, who also chairs the Financial Stability Oversight Council, said that a spate of extreme weather events is causing insurers to raise rates on homeowners.

The Florida Insurance Guaranty Association is getting ready to head back to the market next week with a variable-rate bond deal after successfully selling fixed-rate bonds last week to help fund claims from insolvent insurance companies.

The Florida Insurance Guaranty Association, which handles the claims of insolvent insurers, plans to borrow $600 million in the municipal bond market.

The average annual property insurance payment in the state is $4,231, nearly triple the national rate of $1,544, according to the Insurance Information Institute, an industry association.

Hurricane Ian damages under investigation in Florida bring attention to ways to protect adjuster reporting

With the right tech, agents can deliver more value more quickly.

Climate change has increased wildfire risk in California while hurricane losses in Florida have already seen a number of reinsurers cut exposure, Moody's said.

The bill passed in the Florida House of Representatives by a vote of 84 to 33 Wednesday afternoon after the Senate approved the legislation Tuesday, according to the Florida Senate's website.

AI tools can help insurers with historical loss projections more effectively predict the impacts of future catastrophes.