Florida's Insurance Commissioner bullish on new domestic property insurer
Florida’s insurance regulators are touting the entry of a new company into the state’s turbulent insurance market as a reassuring sign.
The Office of Insurance Regulation has approved Condo Owners Reciprocal Exchange to start selling commercial residential policies in the state. Insurance trade publications say that the company was started by HCI Group, a holding company that already operates a domestic insurer in Florida.
“OIR is pleased to see more companies, jobs and capital coming into Florida’s insurance market this year,” said Insurance Commissioner Michael Yaworsky. “This announcement is further indication that the reforms are having the intended impacts on our market and further expa...
