TALLAHASSEE, Fla. — As WPTV has been closely tracking growth in Florida's insurance market, the state's Insurance Commissioner announced Friday that two new companies have been approved to write residential policies.
Incline National Insurance Company is headquartered in Texas and is now approved to write insurance in Florida for allied lines, homeowners' multi-peril, inland marine, workers' compensation and private passenger auto. According to Florida's Office of Insurance Regulation, Incline intends to offer policies statewide.
The second company approved, Florida Insurance and Reinsurance Company, will primarily focus on writing coverage for condos and condo associations. The company also plans to provide property coverage for smaller, multi-tenant office buildings.
"I am pleased to announce two additional property and casualty companies doing business in our state with more companies to be announced in the near future. Our market is becoming more and more competitive," said Insurance Commissioner Mike Yaworsky.
OIR also said that since legislative reforms, the state has approved 14 new companies to write insurance policies in Florida.
In April, WPTV reporter Matt Sczesny spoke to the CEO of Patriot Select, which had just been approved to do business in the state. The company is a reorganization of former Anchor Insurance with new management and a new business plan.
WATCH: WPTV listens to Patriot Select CEO discuss the company's plan for business in Florida
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.
