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Reinsurance access remains critical to Florida insurance stability
Morningstar DBRS said Florida’s hurricane risk makes ongoing reinsurance availability a key support for long-term market strength and financial stability.
Morningstar DBRS highlighted in a new report that continued access to reinsurance will remain critical to the long term stability and financial strength of Florida’s residential property insurance market, given the state’s significant exposure to hurricanes, as discussed by Reinsurance News.
The report argues that reinsurance should stay “affordable and readily available” to help the market manage risk over time.
It also points to how Florida’s residential property insurance market has changed following the severe disruption it experienced between 2020 and 2023.
Reinsurance News said the overall implication is that without steady reinsurance access, the market’s stability and financial position could face additional pressure.