Carrier Management says regulators approve new property insurer for Florida

Carrier Management announced on the social media platform X that regulators have approved Vision Insurance Exchange, led by former Florida Peninsula Insurance CEO Roger Desjadon, as the 15th new property insurer authorized to enter Florida's market since legislative reforms.

According to Carrier Management, Vision Insurance Exchange is based in Cape Coral, Florida. Its approval as a domestic insurer comes amid ongoing efforts to revitalize Florida’s homeowners insurance market. The firm will operate as a reciprocal insurer—designed and managed by independent agents, with policyholders sharing in both risk and potential surplus dividends. This entry marks the 15th property/casualty insurer to receive authorization since Florida enacted landmark reforms aimed at reducing excessive claims litigation and stabilizing the market.

As reported by the Insurance Journal, which originally published the story in Carrier Management, Vision Insurance Exchange received a certificate of authority after regulators issued a consent order on August 7. The company must submit required documentation, including a reinsurance agreement and proof of funds, within 60 days to move forward with licensing. Company leadership includes industry veterans such as Mark Berset (chairman), Ronald Scalzo Jr. (COO), and Frank Lattanzio (CFO), reflecting deep Florida market experience and operational structure. Carrier Management noted that Vision plans to participate in policy takeouts from the state-run Citizens Property Insurance Corp., a common strategy for new entrants expanding local market capacity.

According to a recent article in Insurance Business, Florida’s homeowners insurance industry saw a turnaround in profitability—from a net loss of $751 million in 2022 to a net income of $944 million in 2024—indicating improving market conditions that benefit new entrants like Vision. The same source explains that new insurers are entering with cleaner balance sheets unburdened by legacy litigated claims, allowing them to price more competitively and serve markets more efficiently. Legislative reforms have also dramatically reduced litigation-related costs, with the state’s defense cost-containment ratio dropping from 8.4 in 2022 to 3.1 in 2023—underscoring broader systemic stabilization.

Carrier Management is described as a leading industry publication serving C-suite executives in the property/casualty insurance and reinsurance sectors, delivering focused reporting and analysis on underwriting, risk, distribution, leadership, and regulatory developments. The outlet offers exclusive news and expert insights—positioning it as a key resource for decision-makers navigating complex market environments. Its coverage of Vision Insurance Exchange’s approval illustrates its commitment to tracking major shifts within the Florida insurance landscape.