By determining which homes are eligible for shingle warranty coverage and applying existing policy language, insurers may reduce roof claim indemnity and improve policyholder service outcomes through saved or reduced deductibles. (Photo: Michael O'Keene/Adobe Stock)
Florida homeowners results have been and will continue to be severely pressured, resulting in consistent financial losses since 2016. Key drivers of social inflation, soft fraud and assignment of benefits (AOB) have substantially increased attritional loss ratios while reinsurance expenses due to higher catastrophe losses have increased, as well. The concentration of these effects in Florida has resulted in significant rate increases just to break even, and other states are not immune.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
