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Home > Blog > Trends in market share among Florida Insurers
THURSDAY, AUGUST 7, 2014

Trends in market share among Florida Insurers

In a growing and somewhat disturbing trend, insurers not rated by AM Best are capturing a greater portion of the Florida homeowners insurance market. The table above shows the leading insurers by market share. The only AM Best rated companies on the list are USAA, State Farm and ASI. Citizens is not rated by AM Best and many knowledgeable sources have questioned the adequacy of Citizens policyholder surplus to pay claims in the event of a major hurricane. The last major storm to hit Florida was in 2005 and the financial stability of Florida insurers has not been tested in a while. Homeowners should be carefully consider the AM Best rating when making a decision about insurers for their property

Posted 2:00 AM

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NOTICE: This and all content is developed from sources believed to be providing accurate information. The information in this material is not intended to be used as tax or legal advice. Please consult with a tax and/or legal professional for detailed information regarding your individual situation. Some of this material was developed and shared by Chartwell Insurance Services to provide information that may be of interest. Chartwell Insurance Services is not affiliated with the named representative, broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.
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