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    This indicator of Florida’s property insurance market sees improvement

    By News Service of Florida,

    6 hours ago
    https://img.particlenews.com/image.php?url=1wI4nT_0uCRIvvf00
    The bridge leading from Fort Myers to Pine Island, Fla., is seen heavily damaged in the aftermath of Hurricane Ian on Oct. 1, 2022. A new report says the market for reinsurance, a critical part of Florida's property insurance system, improved this year. But forecasters are predicting an extremely active storm season. [ GERALD HERBERT | AP ]

    TALLAHASSEE — As Florida gets ready to enter the thick of hurricane season, property insurers have seen improvements in the market for reinsurance — critical backup coverage that helps drive how much homeowners pay in premiums.

    Now, it’s a waiting game as forecasters expect a busy, and potentially costly, season.

    New reports by the reinsurance brokers Aon and Gallagher Re said Florida property insurers found better prices and more availability when purchasing reinsurance coverage that took effect June 1 and Monday.

    “Following several years of significant reinsurance rate increases, relatively low catastrophe activity and improved results for both insurers and reinsurers, many of...

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