×

COVID-19 Update: Please note that we are all working remotely and our hours remain unchanged at 8.30a- 5p CT. As always, taking care of our clients remains our top priority. Our phone number is 312-645-1200 and email remains the fastest way to reach us although all calls will be returned by the end of day should you leave a message because no one is available to answer. For more information and resources, see our Latest Insights.

Call Us 312.645.1200

Trends in market share among Florida Insurers

August 7, 2014

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

Some of the Information that appears on this site is produced by Chartwell Insurance Services an independent insurance broker specializing in the personal asset protection of successful individuals. Other content is provided as a resource. The contents of all posts are informational only and Chartwell Insurance Services is not providing legal advice nor policy interpretation. If you have questions please direct them to a representative of Chartwell Insurance Services.