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What is a Florida reinsurance all about?

June 29, 2023

Florida has a unique property insurance market consisting mostly of small and medium-sized local insurers that rely heavily on reinsurance. These companies serve to fill the gap left by national insurers that have shied away from providing coverage in the state because of the enormous risks. For these local insurers, reinsurance functions as a form of a “financial shock absorber,” allowing them to take on more risks often far beyond what they are willing to bear.

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