Clients must work with underwriters who understand the intricacies of the Florida market, not just the coastal regions. Building relationships with underwriters who understand how to layer property, build a tower, and secure the best rates is crucial. Photo: Felix Mizioznikov/Stock.Adobe.com
The state of the Florida property insurance market has become increasingly challenging recently, with a surge in natural disasters over the past three years causing more damage to the peninsula than in the previous decade. Even if you avoid the direct impact of a storm, you will still feel the financial repercussions through increased insurance costs.
This challenging market has forced retail brokers to rely heavily on wholesale partners to secure adequate terms, but even this is becoming an arduous task. The current climate necessitates even deeper diligence, from loss pick analytics to the almost insurmountable challenge of placing wind coverage on anything other than Lloyd's paper.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
