Florida Ends FIGA’s 1% Insurance Assessment Two Years Early – What It Means for You
Florida policyholders are finally catching a break — and it’s happening two years sooner than expected. The Florida Insurance Guaranty Association (FIGA) has confirmed that the 1% emergency assessment added to most property insurance policies in 2023 will officially end on October 1. In a state where insurance news rarely feels uplifting, this update is a refreshing shift.
According to Executive Director Bob Ricker, the early termination could save Floridians up to $650 million over the next two years. A calm 2025 hurricane season, fewer carrier failures, and overall market stabilization are credited with making this early sunset possible.
Why This Matters for Florida Property Owners
Millions of Florida residents have been carrying the weight of the state’s insurance turbulence. With average premiums around $3,066, this rollback translates to roughly $31 in annual savings per homeowner. It may not be a huge windfall, but in Florida’s unpredictable insurance climate, every reduction counts.
Did you know?
FIGA has paid out over $2.1 billion in claims over the past five years — the direct result of 10 insurer insolvencies during one of the most volatile periods in Florida’s insurance history.
How Florida’s Insurance Reforms Helped Turn the Tide
Florida’s sweeping insurance reforms in 2022 and 2023 continue to reshape the market. By eliminating one-way attorney fees and assignment-of-benefits agreements, lawmakers removed major drivers of excessive litigation and inflated claim costs.
Insurance Commissioner Michael Yaworsky affirmed the assessment’s early end as evidence that these reforms are “producing savings for consumers” and helping stabilize the market.
A Quick Look Back: Why Was the Assessment Added?
In 2023, FIGA issued the 1% emergency assessment to help fund bonds needed to pay claims left behind by failed insurers. The move followed several smaller assessments, each tied to Florida’s struggle against aggressive litigation trends and multiple insurer collapses.
While the Governor previously proposed suspending the charge, bondholder agreements made it too complex — until now. With calmer conditions and improved industry footing, FIGA can finally retire the assessment.
What This Means for Real Estate & Insurance Professionals
For Florida’s real estate agents, insurance producers, and mortgage professionals, understanding FIGA’s decisions is essential. These shifts influence everything from consumer affordability to underwriting strategies and closing timelines.
Professionals committed to staying competitive know that industry awareness is power. That’s why institutions like Cameron Academy place such a strong emphasis on current events and practical insight — not just test prep.
As Florida’s insurance landscape continues to evolve, one message remains clear: professionals who stay informed stay ahead. That’s the edge we cultivate every day at Cameron Academy.
More Articles
Getting licensed or staying ahead in your career can be a journey—but it doesn’t have to be overwhelming. Grab your favorite coffee or tea, take a moment to relax, and browse through our articles. Whether you’re just starting out or renewing your expertise, we’ve got tips, insights, and advice to keep you moving forward. Here’s to your success—one sip and one step at a time!
The commercial real estate sector closed out 2025 with renewed stability, as the Real Estate Roundtable’s latest sentiment index shows rising confidence and improving market fundamentals. Executives report better access to capital, stronger performance in residential, retail, and hospitality, and early signs of recovery in the office market. With financing loosening and asset values climbing, the outlook for 2026 is increasingly optimistic, creating fresh opportunities for both seasoned professionals and newcomers preparing to enter the field.
The CFPB is proposing changes to how lenders evaluate “disparate impact” under the Equal Credit Opportunity Act, potentially tightening the scrutiny on credit decisions that unintentionally disadvantage protected groups. These updates could reshape underwriting models, lending criteria, and compliance requirements — ultimately influencing mortgage approvals, buyer qualifications, and day‑to‑day real estate activity.
Florida’s insurance crisis has become the defining issue heading into 2026, with Republicans touting recent market improvements while Democrats argue families are still being crushed by soaring premiums. From billion‑dollar auto insurance refunds to condo markets destabilized by post‑Surfside rate spikes, the state’s political divide is shaping the future of real estate, insurance, and affordability for millions.
October 2025 brought a wave of major regulatory updates across insurance, finance, and compliance. From stricter oversight on retail insurers and new FCA rules on ESG and travel insurance, to EIOPA’s EU‑wide consultations and refreshed corporate governance standards, regulators signaled higher expectations and faster change ahead. For professionals—and those pursuing licenses—these shifts directly impact risk management, product design, and consumer outcomes, making regulatory awareness a critical competitive advantage.
After nearly two years of sluggish activity, commercial real estate lending is finally accelerating—fast. New data from CBRE shows loan closings jumped 112% year‑over‑year in Q3 2025, reaching their highest level since 2018. With interest rates stabilizing and credit spreads tightening, investors are returning, banks are re‑entering the market, and multifamily financing is dominating once again. The long‑stalled deal flow is thawing, signaling renewed momentum heading into 2026.
Farmers Insurance is lifting its cap on new homeowner policies in California after two years of limiting growth, signaling a shift in the state’s strained insurance market. The expansion comes with a proposed 6.99 percent rate increase that still needs regulatory approval. Supporters call it a turning point driven by new wildfire‑risk rules, while consumer advocates warn the reforms contain loopholes and could lead to higher costs for homeowners.
