The Personal Insurance Federation of Florida has announced that 17 property and casualty insurers have been approved to enter the state’s market following recent reforms. This development comes as nearly one million Citizens Property Insurance policies are being transferred to private carriers, signaling improved stability and competition in the insurance sector.
According to the Personal Insurance Federation of Florida’s Market Pulse Report from October 2025, these insurers have been approved to conduct business in Florida since reforms were enacted in 2022 and 2023. These reforms aimed at restoring confidence in the private market. The report highlights that between 2023 and September 2025, approximately 970,000 Citizens Property Insurance policies were assumed by private carriers, reducing Citizens’ exposure by over $418 billion. The federation identifies this as the first sustained reduction in Citizens’ policy count in more than three years, indicating a strengthening homeowners insurance market.
The Florida Office of Insurance Regulation’s Property Insurance Stability Report from January 2025 reveals that data from insurers’ filings show rate requests for homeowners policies have turned negative for the first time in several years. The report notes a 30-day average homeowners rate request of –1.4 percent and a 180-day average of –0.3 percent, compared with increases above seven percent two years earlier. The office attributes this shift to improved reinsurance pricing and legislative changes that curtailed lawsuit abuse and litigation costs, helping stabilize the property market.
Florida Statute 629.011 defines reciprocal insurers as unincorporated associations where individual subscribers exchange insurance contracts and share profits and losses through an appointed attorney-in-fact. This statutory definition underscores that reciprocal insurance is a mutualized model emphasizing shared financial responsibility and policyholder participation in risk pooling. This arrangement provides an alternative to traditional stock or mutual insurers, allowing policyholders to operate collectively in managing homeowners insurance coverage.
According to its official website, the Personal Insurance Federation of Florida (PIFF) is a statewide trade association representing leading personal-lines insurers, including companies offering homeowners insurance. PIFF advocates for policies that enhance consumer protection, expand private market participation, and promote fiscal stability in Florida’s insurance sector. The organization publishes the Market Pulse report to provide transparent updates on market performance and the effects of state legislative reforms on homeowners insurance availability and affordability.
