The bill passed 23-15 in the state’s Senate on Thursday, after passing the House last week.

On Thursday, the bill passed 23-15 in Florida's Senate, after passing the House last week.

The investment came from Geodesic Capital, QED Investors, and additional investors.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The Florida insurance carrier has grown its book rapidly through acquisition.

Inside P&C’s news team runs you through the key highlights of the week.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Yaworsky has served as interim insurance commissioner since being nominated by Governor Ron DeSantis last month.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

For years, Florida attorneys have utilized one-way attorney fees and assignment of benefits to bleed the insurance market of thousands of dollars.

CEO Locke Burt said Florida reforms would be “transformational” and that investors had become more receptive to cat risk owing to higher rates.

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The agency attributed the decision to a material deterioration in the company’s surplus position, as a result of challenging personal property insurance conditions in Florida.

The carrier reported a Q4 consolidated loss ratio of 39.4%, down one point on the year as claims frequency declined while severity stabilized towards the end of the year.

2022 statutory data is now available, and results show winners and losers

The state-backed carrier’s policy count is projected to hit a record high of 1.6 million by year-end.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The issuance is replacing $400mn of cat bond coverage placed in early 2020.

The carrier reported a Q4 combined ratio of 101.4%, an improvement of 30 points year-on-year, driven by a 27-point reduction in its loss ratio.

United Insurance Holdings said it had fully exhausted its personal lines reinsurance cover on the event, rendering its personal lines carrier insolvent.

Inside P&C’s news team runs you through the key highlights of the week. 

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Ron DeSantis has also announced proposals to modernize Florida’s "bad faith" law, in the latest set of reforms he described as the most “comprehensive in decades”.