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flag Florida's insurance companies reported their first profit in eight years, but home premiums remain high.

flag Florida's insurance companies reported combined profits of $207 million in 2024, their first profitable year in eight years, according to AM Best. flag The turnaround is credited to reforms, increased competition, and higher premiums. flag Despite profitability, average home insurance premiums in Florida remain high at $5,400 for a $300,000 home. flag Private insurers are taking on less risky policies from Citizens Insurance, which is leading to more high-risk policies for Citizens. flag Lawmakers are considering new regulations to address insurer practices.

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