New Reforms, Old Problems: Florida’s Insurance Market Still on Shaky Ground
Florida’s home insurance market has always been unpredictable, but recent reforms meant to stabilize the system appear to be repeating history rather than rewriting it. With insurers exiting, premiums rising, and new companies stepping in with questionable backgrounds, many homeowners and real estate professionals are once again navigating a landscape filled with uncertainty.
The latest developments trace back to Gov. Ron DeSantis’s 2022 legislative package—described by some as a seasonal gift to the insurance industry. Similar efforts followed Hurricane Andrew decades ago, and just like then, the result has been a wave of small, lightly capitalized insurers entering a market still trembling under the weight of catastrophic risk.
In 2023, Florida began aggressively depopulating Citizens Property Insurance Corporation, the state’s insurer of last resort. Citizens is required to shift policyholders to private carriers if the premium difference is within 20 percent. For many Floridians, this meant being moved into newer, more costly policies with companies that often lacked long-term financial strength.
According to the Insurance Fairness Project, some private insurers now assuming Citizens policies have ties to previous insolvencies. One notable example is Viceroy Preferred Insurance Company, sharing board members with Monarch National—an insurer fined $325,000 for mishandling hurricane claims and linked to the now‑insolvent FedNat Insurance.
“Many of the same conditions that left homeowners exposed in the last crisis are being reproduced.” — Insurance Fairness Project
Checkered Pasts and Rating Gaps
While many new insurers have been approved to take on Citizens’ policies, several carry histories of claim denials or financial instability. Some, like Patriot Select (formerly Anchor Insurance), reentered the market after prior restructuring. Others, such as Apex, emerged from the remnants of insurers that failed in earlier decades.
Compounding the uncertainty is the influence of Demotech—Florida’s most widely used private ratings agency. Despite awarding many insurers “A” ratings, Demotech-rated companies have historically failed at much higher rates compared to major national agencies. Between 2017 and 2025, 17 insurers collapsed within a year of receiving top marks.
Homeowners Paying More for Less
New data from independent agency Weiss Ratings paints a troubling picture: 14 Florida insurers closed more than half of homeowner damage claims without payment in 2024. People’s Trust Insurance Company topped the list, denying an astonishing 75 percent of claims. Slide Insurance Company, another recent entrant, denied more than half—despite holding an “A” rating.
Slide’s leadership also raised eyebrows for multimillion-dollar executive payouts at a time when policyholders struggled. Their opulent lifestyle, including a 9,600-square-foot waterfront estate, has only intensified resentment.
Political Currents Beneath the Surface
Florida’s insurance industry has long been intertwined with state politics. Substantial donations from top executives to political committees and allegations of regulators softening findings on insurer profitability continue to raise questions about oversight and public protection.
Climate finance strategist Jordan Haedtler argues that fragmented oversight across various agencies only deepens the crisis. His team proposes consolidating insurance regulation, disaster recovery, land-use planning, and building codes into a single streamlined authority.
Calls for a True Overhaul
The Insurance Fairness Project asserts Florida must move “beyond cosmetic fixes.” Experts like Martin Weiss go further, suggesting the state may need to reconstruct its entire insurance system from scratch to restore stability and protect homeowners.
For real estate professionals, lenders, and homebuyers, insurance reforms—good or bad—shape the trajectory of Florida’s entire housing market. Understanding the shifting insurance landscape is now as essential as tracking inventory or interest rates.
That’s why institutions like Cameron Academy remain committed to helping professionals stay informed, licensed, and prepared. Whether you’re earning your first real estate certification or expanding your professional portfolio, staying educated is your strongest advantage in a rapidly evolving market.
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!
In the rapidly evolving world of technology, one question often surfaces: Will AI replace real estate agents? Our comprehensive exploration into this topic reveals the intricate interplay between technology and the real estate industry, and how this relationship is shaping the future of property transactions. While some view the rise of AI with apprehension, others see it as a tool for enhancement. Take Cameron Academy, for instance. They've seamlessly integrated AI into their educational platform, offering an AI tutor to assist students. It's an intriguing paradox. On one hand, we have concerns about AI replacing jobs, and on the other, we witness how AI can enrich our learning experiences.
Are you planning to buy a house? Understanding your financial capacity and determining whether you can afford the monthly payments is crucial. This guide explores the various factors that come into play when determining the affordability of a $200,000 house. We break down the key elements that contribute to overall affordability, from income to down payment and mortgage interest rates. By the end of this article, you will have a clear understanding of what it takes to make your dream of homeownership a reality. Discover the benefits of having a real estate license and mortgage license with Cameron Academy's comprehensive courses. Ready to take the next step? Explore our online career education courses and unlock your potential today. Sign up for our real estate license or mortgage license course now!
Considering a career as a real estate agent in Florida? Let's break down the costs involved. The first step is completing the state-required pre-license courses, which can range from $100 to $500. Once you've completed your education, you'll need to submit an application to the Florida Department of Business and Professional Regulation (DBPR) with an $83.75 fee. The state exam fee is $36.75 per attempt. All applicants must undergo a fingerprinting check, which ranges from $50 to $80. Other costs include brokerage desk fees, REALTOR® dues, marketing materials, and living expenses during the initial months of building your client base. Despite the upfront costs, the potential rewards make it a worthwhile investment. Ready to start? Enroll in Cameron Academy's Florida pre-licensing course today!
Welcome to our comprehensive guide on real estate farming. This marketing strategy targets a specific neighborhood or area, establishing you as a local expert. One of the most effective ways to engage with potential clients is through handwritten notes, creating a lasting impression and helping you stand out in a competitive market. Handwritten cards build trust, foster relationships, and increase your chances of converting leads into clients. By incorporating these personalized techniques, you can differentiate yourself from the competition and increase your chances of success. Ready to take your real estate farming to the next level? Visit Cameron Academy to learn more about our real estate farming course.
The current state of the U.S. housing market is characterized by high prices and a lack of inventory. However, recent developments in the short-term rental industry, particularly with Airbnb, have sparked discussions about the potential impact on the broader housing market. This article explores the connection between Airbnb's decline and the housing market, analyzing the implications and providing a balanced perspective on the situation. Short-term rentals, such as Airbnb, have played a significant role in the housing market, affecting housing prices and inventory. These platforms have provided homeowners with the opportunity to monetize their properties by renting them out for short periods. This has resulted in increased competition for available housing and, in some cases, contributed to rising home prices.
Starting a career in real estate can be an exciting and rewarding journey. Whether you are just entering the field or looking to strengthen your existing career, there are valuable tips and insights that can help you navigate the competitive landscape of the real estate industry. The real estate industry is a dynamic and ever-evolving field, with countless opportunities for those willing to put in the effort. With dedication and a strategic approach, you can carve out your own niche and thrive in this competitive market. Don't let the challenges and competition intimidate you. With the right mindset, dedication, and a commitment to continuous learning, you can thrive in the world of real estate. Embrace the journey, leverage your strengths, and build meaningful relationships with clients and industry experts. Start your real estate career or take it to the next level today.
