reinsurance

In 2022, Florida created two programs to help property insurers set up critical backup programs. A new law essentially puts money back in the state's coffers.

A state program that provides critical backup coverage for property insurers could pay an estimated $4.6 billion because of 2024 hurricane claims, mainly from Milton.

A new analysis says overall reinsurance prices are expected to increase by more than 10 percent in 2023, pointing to losses from disasters such as Hurricane Ian and “increasing frequency and severity of natural catastrophe claims.”