Florida's Insurance Market is About to be Upended

The rules around selling policies for Florida's state-backed insurer of last resort Citizens Property Insurance Corp. are about to change as a bill signed into law by Governor Ron DeSantis last month comes into effect on July 1.Under House Bill 1503, insurance agents in the Sunshine State will be required to have at least three appointments with authorized carriers before they can sell policies for Citizens. Until now, insurance agents were required to have only one appointment.

'It will help Floridians in the long run to ensure that their insurance agent is performing the functions that is expected of an insurance professional.'The new law also allows surplus lines insurers meeting state standards to take out Citizens policies on secondary homes.

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Florida Insurance Market Braces for Hurricane SeasonAn above-normal Atlantic hurricane season could destabilize Florida's fragile insurance market, which is yet to find a way out of its ongoing crisis.
Fuente: Newsweek - 🏆 468. / 52 Leer más »

Insurance expert explains how property insurance companies use drones to inspect policyholders’ roofsFor years, property insurance companies have used drones to inspect property damage after a natural disaster.
Fuente: wjxt4 - 🏆 246. / 63 Leer más »