Property Insurance

Floods, wildfires, heat waves and hurricanes cause billions of dollars of property damage each year. Can federal climate scientists help the insurance industry keep up?

Floridians are bracing for additional rate hikes as they are already paying higher monthly payments than homeowners in other states.

Skyrocketing insurance premiums, energy costs and hurricane risks have made routine improvements to Florida homes — like new roofs, impact windows and doors and upgraded AC units — more necessary than ever before.

We also talk with the mayor of Sarasota about the future of his growing city in 2023 and beyond.

They include toll credits for frequent drivers and measures to combat the rising cost of property insurance.

On this week's Florida Roundup, lawmakers wrap up another whirlwind special session aimed at fixing the state's crumbling property insurance market, and Gov. Ron DeSantis asks a grand jury to investigate wrongdoing connected to the COVID-19 vaccines.

In addition to the insurance bill passed by the state legislature during its special session, DeSantis also signed a bill to provide property tax rebates to people whose homes were left uninhabitable by Ian.

Kevin Altmaier, who has been Florida's top insurance regulator since 2016, submitted his resignation on Thursday. He did not give a reason for his departure.

They include a provision that seeks to temporarily help insurers obtain adequate reinsurance and a phased-in requirement for Citizens customers to buy flood insurance.

A Republican-authored bill seeking a $1 billion reinsurance fund, reduced litigation costs and to force some customers to leave a state-created insurer passed the Florida House. It now goes to Gov. Ron DeSantis.

It passed mostly along party lines as Republicans used their supermajority power in both the House and Senate to reject every amendment put forward by Democrats.

The Republican proposal passed Tuesday comes during the GOP-led Legislature’s second special session this year aimed at stabilizing the property insurance market. The bill would create a $1 billion reinsurance fund, reduce litigation costs and compel some customers to leave a state-created insurer.