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Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
Funding for the program comes as the state faces one of its toughest home insurance markets in decades.
The rate increase following an accident varies depending on the location, driver's history and insurance company.
Insurance reforms passed in 2022 are a 'game changer' for Florida's market and helped move the needle on this deal, Slide CEO tells PC360.
Overall, 41 insurance companies were named on the list from JUST Capital, which ranked 951 companies across industries.
The state is experiencing its toughest home insurance market since hurricanes Katrina and Rita in 2005, according to Insurance Commissioner Jim Donelon.
Post-pandemic, coverages for lost bags and missed connections have soared. Both saw recent triple-digit sales increases.
Fitch Ratings projects that workers' comp will see a combined ratio of 92% for 2022.
No single event accounted for a majority of the losses seen during the past year, but disasters were seen across the country.
The NHTSA reported the fatality rate for 2022's first nine months fell to 1.3 fatalities per 100 million vehicle miles traveled.
Around one-third of risk management experts say cyber is the biggest risk. Business interruption followed closely behind.