Port St. Lucie Resident Baffled After Homeowner's Insurance Policy Canceled After Just 2 Months

Port St. Lucie resident baffled after homeowner's insurance policy canceled after just 2 months

Thomas Giachetti of Port St. Lucie was initially glad to have a new homeowners insurance policy with a new company and with a lower premium."Two months later, I get a cancellation notice from Ovation," Giachetti said. "They said the roof is no good. They don't want to insure it with solar panels on it, and some of the stops and stuff under the sink are corroded."WATCH BELOW: Homeowner baffled after insurer suddenly drops coverage Homeowner baffl…

Florida pulls back $2.1 billion in reinsurance money

TALLAHASSEE — As Florida lawmakers in 2022 tried to bolster the troubled property-insurance system, they drew attention for setting aside $3 billion in state money to help insurers with critical backup coverage. But last week, Gov. Ron DeSantis signed a bill that pulled back $2.1 billion of that money, which was expected to go unused. The bill (HB 5013) essentially put the money back in the state’s coffers, where it can be used for other things …

State Pulls Back $2.1B in Reinsurance Money

TALLAHASSEE — As Florida lawmakers in 2022 tried to bolster the troubled property-insurance system, they drew attention for setting aside $3 billion in state money to help insurers with critical backup coverage.

State pulls back $2.1b in reinsurance money | Santa Rosa Press Gazette

By Jim Saunders But last week, Gov. Ron DeSantis signed a bill that pulled back $2.1 billion of that money, which was expected to go unused. The bill (HB 5013) essentially put the money back in the state’s coffers, where it can be used for other things or saved. The bill, which was unanimously passed by the House and Senate during this year’s legislative session, drew relatively little attention as lawmakers battled for weeks about a new budget.…

Florida reinsurance dynamics adjust again after RAP shrinks, FORA repealed - Artemis.bm

This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. Insurance carriers in Florida are likely to turn to the private reinsurance and capital markets for even more limit after two state funded reinsurance facilities were amended in recent days. Governor Ron DeSantis signed House Bill 5013 into law last week, which sets in motion the shrinking of one state-backed reinsurance facility by …