American Integrity Insurance CEO Bob Ritchie Addresses Coverage Collapse in Florida Real Estate
Friday, 6 September 2024, 14:14
Coverage Collapse Affects South Florida Real Estate
In the latest discussions regarding Florida real estate news, CEO Bob Ritchie of American Integrity Insurance revealed concerning trends in the insurance market. With many homeowners priced out of paradise, Ritchie emphasized the slow adjustments that are expected for rates.
Home Insurance Rate Reductions
- American Integrity Insurance is proposing a rate decrease of 6.9% for around 55,000 customers.
- There will be no rate increase for 215,000 additional customers.
- Despite these adjustments, many homeowners continue to face significant hikes from other insurers.
Ritchie advised patience as rates slowly improve, but homeowners must remain vigilant in this challenging landscape.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.