News Summary

• Florida Gov.
• Ron DeSantis’s bid in 2022 to stave off the mass exodus of national insurers from the Sunshine State was described at the time as a “Christmas gift” to the industry.
• That initial effort unleashed a flood of small, undercapitalized insurers with reinsurance-heavy capital structures.
• Florida has one of the highest concentrations of property insurer insolvencies in the U.S.
• According to an independent ratings agency that does not accept payment from insurers, 50 percent of homeowner claims closed more than last year.