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The decision allows a $4bn settlement, threatened by insurer claims, to proceed. -
Citizens approved an average 8.6% rate hike and decreases for one-fifth of policyholders.
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CFP has a $900mn reinsurance attachment point and is still receiving claims daily.
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Insureds often just want cover in place at the lowest price possible, and insurers oblige under the skeptical eye of regulators.
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The state has seen 11 new entrants into the insurance market, reflecting renewed confidence.
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The state is building an insurer of last resort from scratch, taking notes from California.
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Democrats pushed back during the hearing, urging rules to encourage mitigation.
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The carrier has not added new business in the state since 2007.
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The carrier has been reducing its presence in the state since 2007.
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RenRe gave the highest anticipated market loss of $50bn.
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The company says the recent wildfires will be the costliest in its history.
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The new Floridian carrier plans to write homeowners’ insurance in Q1.
