The Florida State Office of Insurance Regulation has released the list of the now nine insurance companies the state says have filed or plan to file rate reductions in 2024.
- Safe Harbor Insurance Company
- Spinnaker Insurance Company
- Southern Oak Insurance Company
- American National Property & Casualty Company
- Heritage Property & Casualty Insurance Company
- US Coastal Property & Casualty
- Florida Peninsula Insurance Company
- Stillwater Property and Casualty Insurance Company
- American Integrity Insurance Company of Florida
The state also says another 10 companies filed for zero-percent rate filings, meaning no increases at all.
- Florida Family Home Insurance Company
- Florida Farm Bureau General Insurance Company
- American Bankers Insurance Company of Florida
- Edison Insurance Company
- Castle Key Insurance Company
- Heritage Property & Casualty Insurance Company
- Castle Key Indemnity Company
- American Integrity Insurance Company of Florida
- American Security Insurance Company
- American Traditions Insurance Company
Lisa Miller is a former deputy insurance commissioner and now is a consultant through Lisa Miller and Associates. She said some of these companies listed have hundreds of thousands of policies, meaning this will have an impact on many Floridians.
"It's very encouraging," Miller said. "If you look at the first nine companies that are announcing rate reductions, we have seven and a half million property insurance policies. They probably represent a million and a half of those. That's really good news."
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