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Nationwide, property insurance premiums rose 34% between 2017 and 2023, and they continued to rise in 2024 across much of the country. Why is this happening? One common thread: Climate change is fueling more severe weather, and insurers are responding to rising damage claims.
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Citizens Property Insurance policies continue to be significantly underpriced compared to private carriers, the company told state regulators. The insurer of last resort in Florida isn't meant to be competitive. But if it were, its average premium for regular homeowner's insurance would have to almost double.
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A Broward commissioner is pushing Congress to pass legislation he says could lower insurance rates for Florida customers "immediately" — and by as much as 25%.
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Frequent natural disasters and high inflation have led insurers to raise premiums, and forced many customers to pare back their policies.
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As Florida’s insurance crisis makes hurricane hardening more important than ever, consumer advocates have pressed to reign in a popular — but controversial — loan program that allows homeowners to pay for new roofs or impact windows through their property tax bills.
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The new legal landscape of abortion is causing more health insurance companies to think about the best way to offer equitable coverage across state lines. Some firms have decided to expand coverage for abortion services.
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The state-run company is giving customers until Oct. 10 to either accept or decline an offer to switch to the private market, which will help lower the insurer's risk exposure.
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Florida Insurance Commissioner is taking issue with parts of a Citizens proposal that would increase rates by 12% for homeowners with the most-common type of policies.
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The cost of homeowners insurance in Florida has increased 100% over the last few years
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The Florida insurance market took a hit, as Farmers Insurance said it will end residential, auto and umbrella policies in the state.
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New estimates from a data analysis company shows home insurance premiums in Florida have actually been rising faster than in any other state — a lot faster.
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State insurance regulators signed off on a plan that will lead to policyholders throughout Florida paying extra on their bills because of property-insurer insolvencies.