Dr. Robert Hartwig, III

According to Dr. Robert Hartwig, President of the insurance Information Institute (III), Citizens Property Insurance Corporation in Florida has seen its population count drop to its lowest level in many years. Many policies have been transferred to the private market. In addition, Florida Citizen’s has tapped private reinsurance and the capital markets as well. As a result, Florida taxpayers are less “on the hook” than before.

Dr. Hartwig sees this as good news for private insurers that are seeing slow/modest growth elsewhere. While the Florida market is risky, reinsurance is very affordable right now, so the market is an opportunity for insurers willing to assume that risk.

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