Property insurers operating in Florida are facing a slew of issues that are making them reconsider their risk appetites, new commentary by AM Best has revealed.
The commentary, entitled “Troubled Florida Property Market Participants Under Immense Pressure,” said that insurers’ capabilities to purchase reinsurance protection at the same level as in years past has been limited. Because of that, they have had to refine their risk accumulations and target non-renewals to minimize their reinsurance needs, AM Best said. But while these initiatives are meant to improve overall enterprise risk management, their efficacy and appropriateness have yet to