Florida property insurance coverage market will get an ‘unprecedented’ enhance that would support 1000’s

Florida insurance coverage regulators are taking an “unprecedented” and “extraordinary” step to try to stop tens of 1000’s of house owners from being pressured to search for new property insurance coverage protection if score company Demotech follows by way of on plans to downgrade many Florida carriers.

The Florida Workplace of Insurance coverage Regulation introduced a plan Wednesday to supply corporations which are downgraded with reinsurance protection by way of state-run Residents Property Insurance coverage.

The dramatic resolution to imagine monetary duty for a raft of struggling insurers underscores the dire circumstances Florida is going through as a big portion

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