WEST PALM BEACH, Fla. — A new homeowners insurance company is coming to Florida.
Mangrove Property Insurance, a start-up based in Florida, has been cleared by the state's Office of Insurance Regulation.
WATCH BELOW: Mangrove Insurance CEO says they'll launch in a 'disciplined way'
CEO Stephen Weinstein told WPTV reporter Matt Sczesny that the new climate of litigation reform has made it better for them to start writing policies.
"We will manage our aggregates so that we are a meaningful source of capacity in southeast Florida, but we will also spread our capacity across the state in a disciplined way," Weinstein said.
The CEO said Mangrove is expected to start writing policies later this year through insurance agents in Florida.
"Smart legislative and regulatory reforms have stabilized Florida's marketplace, giving us confidence to enter the market with new capital and capacity to help homeowners meet their property insurance needs," Weinstein said in a statement released Monday. "Just as mangroves protect Florida's coastlines from erosion and storm surge, Mangrove Property Insurance Company is committed to being a permanent solution Floridians can turn to in protecting their property."
Matt Sczesny is determined every day to help you find solutions in Florida's coverage collapse. If you have a question or comment on homeowners insurance, you can reach out to him any time.
Read WPTV's latest "Coverage Collapse" stories below:
-
Retirement savings grow, yet more workers take hardship withdrawals
Vanguard reports 401(k) hardship withdrawals rose to 6% in 2025 as access eased, while average balances grew 13% to nearly $168,000.
Security deposit disputes: How renters can protect their money
When you move out of an apartment, you expect the walls to have some normal wear and tear. But one woman says she was charged nearly $700 for routine nail and scuff marks. What can you do.
Airlines are cracking down on carry-ons: Here's how to avoid a gate-check
More and more airlines are forcing passengers to tag and gate-check their bag, just as they are about to board. Why flying regional jets with a roller bag now makes you prime for a gate-check.
Simple maintenance to add years to your car's life, avoiding high new car prices
With the cost of auto repair continuing to rise, many drivers are postponing maintenance such as oil changes and transmission flushes. Mechanics explain why that is a terrible idea.
