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If current forecasts prove accurate, this will be a pivotal moment for the already off-balance Florida cohort and could result in a new market landscape. -
Last week, Governor Ron DeSantis recommended approving the additional budget.
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The average tax rate for the 10 largest P&C insurers is 17.9%, well above the corporate alternative minimum tax’s 15%.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Specialized carriers and MGAs building growing books in the specialist market are in no rush to see legalization that would usher in larger competitors.
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The broker said the IRA is not expected to have a materially adverse impact on its ability to utilize tax credit carryforwards, according to SEC filings.
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Nicole Fried cited her department’s duty to act in consumers’ best interests.
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The ratings agency said the proposed restructure posed execution risk, but regulatory approval would alleviate short-term uncertainty.
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With many local insurers essentially “zombie companies”, state legislators need to end one-way fees and assignment of benefits.
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Joe Petrelli said Demotech would continue to follow its independent methodology, despite outside pressure.
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No matter what the outcome, further market dislocation is on its way – but there are various band-aid options that could help Florida insurers limp through hurricane season.
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The Catastrophe Reform Package passed the 2022 Legislative Session to provide relief for policyholders struggling in the aftermath of Hurricane Ida.
