The twelfth new real estate insurance company, Apex Star Pronsrocal, Florida Market
On Monday, the Florida Insurance Commissioner announced another to water warming in the Florida Market-A-12Y A new insurance company in the past two years.
Apex Star Prowsrocal Exchange is part of the Starlight Insurance Group collection, based in New Port Richey, Florida. David Nichols has been listed as head and executive director of Starlight since October 2023. He was formerly CEO of Inter terms Insurance Group, according to the LinkedIn page.
Apex Star will provide multi -trade home owners, interior naval, allied lines, extinguishing and responsibility coverage, according to OIR.
Insurance Commissioner Michael Yaworski said that the latest entry into the Florida Market once is another evidence that the 2022-2023 legislation, which led to the suffocation of excessive lawsuits and the demands of bad religions against insurance companies, is folded.
“The continuous growth in the insurance market in Florida is largely due to the historical legislative reforms that we have enacted,” Yaworski said in a statement. “We must continue this path and not run back.”
It is noticed that Florida’s approval, which permits the Apex star, signed in November 2024, is noted that the stock market participants should pay policy insurance installments in addition to a contribution surplus equal to 10 % of the annual installment. The company has the minimum excess required, including at least $ 400,000 deposited with the Financial Services Department of Financial Services.
The number of new property insurance companies to enter Florida since 2022 has now exceeded the number of insults that were seen from 2019 to 2023, during what was called the litigation crisis in the field of property insurance in Florida.
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