Florida's home insurance market stabilizes as rates ease, with eight new companies approved amid La Niña-driven hurricane forecasts.

Florida's home insurance market appears to be stabilizing, with rates easing after a years-long effort to bolster the industry. Forecasters predict a super-charged hurricane season due to La Niña, prompting companies to purchase more reinsurance. If more than two hurricanes strike Florida, there could be financial stress on some companies. Eight new insurance companies have been approved to sell insurance in the state.