Florida insurance carriers purchased 11% more in reinsurance over the course of 2023 than a year earlier and while market conditions were certainly hard, it was not as challenging as had been forecast for the domestic Floridian insurance market.
In addition, the latest data released on homeowners’ property insurance lawsuits shows a decline has continued up to the end of 2022, suggesting an improving market outlook and that there could be evidence emerging that the reforms enacted in the state of Florida are having a positive effect.
