Guy Carpenter Finds Florida Insurers Have Lower Direct Expense Ratios
What happened
Guy Carpenter found that Florida-focused homeowners’ insurers had lower direct expense ratios compared to comparable non-Florida carriers between 2018 and 2023. This finding contrasts with a previous, disputed report that suggested Florida insurers were losing money while their affiliated companies made millions. The Office of Insurance Regulation in Florida has broad authority to examine insurers and their affiliates.
From sun-sentinel.com
Why it matters
The comparison of expense ratios relates to scrutiny over how insurance companies pay affiliates for services such as underwriting and claims processing. The findings provide new financial context regarding the operational costs within the Florida insurance market.
From sun-sentinel.com
Who's involved
- Guy CarpenterRisk and reinsurance company that conducted the comparison of expense ratios
- FloridaState where the homeowners’ insurers operate
- Marsh & McLennan CompaniesGlobal professional services firm whose offerings are functionally integrated with Guy Carpenter
- MarshProfessional services company that functions as a business unit under Marsh & McLennan Companies
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- FloridaSpeculative
Florida might experience market stabilization and rate relief for homeowners’ insurance.
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.Keep exploring
The entities involved
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Fort Lauderdale
city in and seat of Broward County, Florida, United States
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Guy Carpenter
Risk and reinsurance company
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