15 New Home Insurance Companies in Florida Since Reforms

Florida’s property insurance market is finally stabilizing. Since lawmakers passed reforms in 2022 and 2023 to curb litigation and discourage fraudulent claims, 15 new insurers have entered the state. Just a few years ago, carriers were leaving or going insolvent; today, competition is returning.

The reforms targeted runaway lawsuits — especially roofing claims — by ending automatic attorney fee multipliers and limiting abuses that made Florida’s market uniquely costly. Lawmakers also expanded reinsurance support and streamlined Citizens Property Insurance Corporation’s depopulation program. These changes created a more predictable business environment, enticing insurers back despite Florida’s hurricane risks.

For homeowners, more carriers mean greater choice, reduced reliance on Citizens, and potential relief on premiums. While rates remain high, industry experts say a competitive marketplace is the key to long-term affordability.

Vision Insurance Exchange: Florida’s Newest Entrant

The newest company, Vision Insurance Exchange, will begin operations in November. Based in Cape Coral and led by industry veteran Roger Desjadon, Vision will start by assuming policies from Citizens before expanding statewide. It plans to offer home, condo, and dwelling/fire coverage in every county except Monroe.

Structured as a reciprocal insurer, policyholders become “subscribers” and contribute a 10% surplus payment, with the possibility of refunds if claims remain low. The company describes itself as designed for independent agents and focused on delivering peace-of-mind coverage.

With Vision joining 14 other new entrants such as Orion180, Tailrow, and Mainsail Insurance, Florida’s insurance market is showing cautious but meaningful signs of recovery.

Source: Orlando Sentinel