Photo: Felix Mizioznikov/Adobe Stock
Florida's property insurance market has been stabilizing and improving following years of large losses fueled by natural disasters. The Florida Office of Insurance Regulations (OIR) is in an ongoing effort to stabilize and strengthen the market through legislative reforms and by recruiting more insurers to the state. Eight property and casualty insurers have recently been approved to enter the market, and the acquisition of a reciprocal insurer, Trusted Resource Underwriters Exchange, has been approved. The acquisition will result in more than $1.25 billion in capital being invested into the market.
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