Florida’s capital raising environment still has room for improvement.

TLDR:

• Near two years since tort reform overhaul, Florida hasn’t seen expected influx of start-ups.
• Florida may have to wait longer for capital raising environment to improve.

As we near two years since the Florida legislature passed a tort reform overhaul, Florida has yet to see the influx of start-ups that was expected. The state may have to wait longer for the capital raising environment to improve. Florida’s Office of Insurance Regulation (Floir) approved nearly 650,000 policies for takeout from Citizens for October and November.

Despite efforts to attract more start-ups and grow the homeowners’ insurance market, Florida has not seen significant progress in this area. Carriers are said to be behaving rationally and are looking to grow, according to Gallagher. RT Specialty also announced six leadership appointments, showing movement in the industry.