The delicate insurance regulatory environment in Florida could make premium increases a political hot potato. (Christos Georghiou/Adobe Stock)
Despite insurance market improvements in Florida in the wake of successful legislative efforts focused on curbing costly coverage lawsuits, the roughly 850,000 policyholders served by Citizens Property Insurance Corp., the state’s carrier of last resort, can expect rate increases from 1% to 6.6% or more, according to WWSB, the ABC affiliate in Sarasota.
This increase, however, is markedly less than the 13% for which Citizens requested approval from the Florida Office of Insurance Regulation in 2024.
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Elana Ashanti Jefferson
Elana Ashanti Jefferson is ALM PropertyCasualty360's Editor in Chief. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].
