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Benefits of legislative reform will take ‘several quarters’ to emerge: CaseGlide.
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Rates have climbed 20%-35% since 1 January, and 40%-50% year on year, sources estimated.
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The counties include Palm Beach, Polk, Orange, Broward, St Lucie, Escambia, Seminole, Osceola, Lake and Miami-Dade.
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The company also proactively suspended writing new personal residential policies in various counties in Florida, effective June 3.
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Reinsurers secured concessions on terms and hiked rates as most insurers managed to patch together cover to enter hurricane season.
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The state-backed carrier hopes to fill out more of the gaps in the coming days.
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The ratings agency says a quarter of the Floridians it rates have still not secured multi-event cover, although first-event towers have come together.
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The cover offers protection for a one-in-160-year first event.
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The Florida homeowners writer had suspended new business and renewals as it scrambled to procure reinsurance coverage.
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DE Shaw has been offering a form of “capacity wrap” to insurers in which its limit could be used to plug gaps throughout programmes, sources said.
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The firm recently invested $15mn in FedNat’s Monarch National.
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The forecast range of hurricanes is slightly wider than in 2021, but in line with 2020.