Floridian carriers purchased 11% more reinsurance in 2022 at 27% higher risk-adjusted cost: OIR
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Floridian carriers purchased 11% more reinsurance in 2022 at 27% higher risk-adjusted cost: OIR

Kyoung-son Song
January 11, 2024
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Floridian carriers purchased 11% more reinsurance coverage in 2023 compared to the previous year, while the risk-adjusted cost of that reinsurance increased 27% for the period, according to the Florida Office of Insurance Regulation (OIR).

In a report released earlier this month, the OIR acknowledged the “degree of uncertainty” in the property insurance market regarding reserves and the impact that is having on reinsurance capacity and rates.

“To

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Kyoung-son Song
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