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Florida's insurance companies reported their first profit in eight years, but home premiums remain high.
Florida's insurance companies reported combined profits of $207 million in 2024, their first profitable year in eight years, according to AM Best.
The turnaround is credited to reforms, increased competition, and higher premiums.
Despite profitability, average home insurance premiums in Florida remain high at $5,400 for a $300,000 home.
Private insurers are taking on less risky policies from Citizens Insurance, which is leading to more high-risk policies for Citizens.
Lawmakers are considering new regulations to address insurer practices.
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Las compañías de seguros de Florida reportaron sus primeras ganancias en ocho años, pero las primas de las viviendas siguen siendo altas.