New insurer enters Florida’s property insurance market amid growing ‘stability’

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Another insurance company has decided to enter Florida’s property insurance market, a move expected to boost competition and offer more options for Floridians.

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The commissioner referenced the addition of Trident Reciprocal Exchange, a new property insurer set to begin offering coverage to Florida homeowners following the state’s landmark reforms in 2023. Friedlander also noted that 12 companies have filed for rate decreases this year, while 24 have filed for no change in premiums. These trends could soon affect property insurance policy premiums for homeowners across the state.

 

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