Rating agency AM Best has chimed in on the issues facing the Florida property insurance market and chief among them is the fact many are going to struggle to maintain their surpluses, leading some to downsize, shed business and move away from the coast.
All of which have been factors that are reducing demand for reinsurance slightly from the private property insurance market at these June 1st renewals.
As we’ve explained, Florida’s property catastrophe reinsurance renewals have seen rates come in below expectations, while some have deemed the outcome unspectacular.
