“Thanks to its forward-looking Legislature and regulatory bodies, Florida’s property insurance market is stabilizing, yet there is still a clear need for additional capacity and competition,” Rollins said in an April release. “Patriot Select is focused on meeting this need by providing homeowners with reliable insurance options, grounded in sound financial management and a commitment to customer service.”
In June, Citizens Property Insurance Company CEO Tim Cerio told the insurer’s Board of Governors that he believes Florida’s long-struggling insurance market is well into its recovery. Historically, a decrease in policies held by the insurer of last resort is an indication that market conditions in Florida are improving.
Citizens’ property insurance policy count peaked in October 2023 at 1.41 million, but that number fell to 777,592 policies in force as of June 2025. This demonstrates a decrease of 44.9% from the peak and a 36% drop in policies since June 2024.
Cerio told the Citizens board that the company expects to see its policy count fall to under 654,000 by the end of 2025. While he anticipates an uptick in Citizens Insurance policies during hurricane season, Cerio said he expects policy numbers will continue to drop in the fall.
Alice J. Roden started working for Trending Insurance News at the end of 2021. Alice grew up in Salt Lake City, UT. A writer with a vast insurance industry background Alice has help with several of the biggest insurance companies. Before joining Trending Insurance News, Alice briefly worked as a freelance journalist for several radio stations. She covers home, renters and other property insurance stories.