Choose from any of our reports and we will be happy to send it/them to you via email at no cost.

    Florida Market Update– December 2023

    Insurance costs have risen substantially the last 2-3 years.  Will the market pricing top out and then start to recede?

    We’ve written about the cyclical nature of insurance, and how the insurers are now generating great results on the basis of extremely high rates.

    Add in the fact that the 2023 Florida hurricane season was a dud, and we mean that in the very best of ways.

    The lack of storm activity can be a catalyst for price movement.  Insurers and brokers are happy with the current pricing and would just as soon keep it at this level.  In fact, rate increases are still being reported.  But, competition being what it is, some insurers will break ranks and go for market share by competing on price.

    We do expect that this will happen now with the right provocation.  

    This means knowing the right insurers to approach, and through which intermediaries.  It could mean breaking the portfolio down by line of coverage (property, liability, D&O, etc.) and marketing each line separately to different players.  Brokers will have to be managed so that they don’t “block markets” and play other games to eliminate competition.  Parametric insurance (a hybrid product with claim payouts based on event occurrence rather than actual damage) could be an answer in the right situations.

    See our report for more background on how the market works:

    Have a professional on your side!

    1. This is high stakes with lots of money involved.  It’s not a do-it-yourself matter.  In addition to price, the actual insurance terms (all the hundreds of pages) have to be negotiated. 

      LicataRisk will conduct the renewal process for you, and you will obtain the best result the market can offer, net of our fee.

      Contact Brandon Dexter, [email protected], or 954-836-8020.


    The largest companies have entire risk management departments reporting to the CFO.  You need risk management too.  See our services.


    (c ) Licata Risk & Insurance Advisors, Inc. 2023

    Frank Licata

    [email protected]                  617.718.5901


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    Nov 29, 2023

    Licata Risk Licata Risk & Insurance Advisors, Inc.
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    LicataRisk Advisors is an independent risk management and insurance consulting firm. We are not brokers and we do not sell insurance. We are not connected to any insurance company or product in any way and do not receive commissions. This is an important difference as you will have an expert on your side who is only committed to you.

    Licata Risk is not a law firm and does not practice law. General advice and contract input by the consultants, including those who are attorneys, is to provide insight into the risk and insurance aspects. Your attorney should be the final authority on any legal matter.