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Waterfront houses in Miami, FL. Credit: Adobe Stock “With an active hurricane season on the horizon, AM Best believes that the current legislation — although a step in the right direction — does not provide significant immediate relief,” the rating agency said in a report. (Credit: PixieME/Adobe Stock)

The financial-rating agency AM Best said that changes passed during a special legislative session “are unlikely to alleviate immediate financial pressures” on Florida property insurers.

A three-page commentary pointed, in part, to insurers facing difficulties purchasing reinsurance, which is crucial backup coverage for such things as hurricane claims.



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