State of Florida

The agency cited the closeness of the entities to Florida's government.

Moody's believes Florida will sell bonds to help replenish the CAT fund this spring.

Citizens Property Insurance Corp. reported that private insurance companies assumed 650,399 policies from the state's last-resort carrier in 2023.

"The main climate factors expected to influence the 2023 Atlantic hurricane activity are the ongoing El Nino and the warm phase of the Atlantic Multi-Decadal Oscillation, including record-warm Atlantic sea surface temperatures," said NOAA's Matthew Rosencrans.

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.

A special session convened earlier this week to stabilize the state’s struggling homeowners’ insurance industry.

Shortly after the partnership was made public on Twitter, State Farm abruptly reversed course.