By determining which homes are eligible for shingle warranty coverage and applying existing policy language, insurers may reduce roof claim indemnity and improve policyholder service outcomes through saved or reduced deductibles. (Photo: Michael O'Keene/Adobe Stock)
Florida homeowners results have been and will continue to be severely pressured, resulting in consistent financial losses since 2016. Key drivers of social inflation, soft fraud and assignment of benefits (AOB) have substantially increased attritional loss ratios while reinsurance expenses due to higher catastrophe losses have increased, as well. The concentration of these effects in Florida has resulted in significant rate increases just to break even, and other states are not immune.
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