Insurance commissioner credits legislative reform for reductions. Florida’s five largest auto insurance groups are indicating an average rate decrease of 8% for 2026, Florida Insurance Commissioner Mike Yaworsky announced March 5. The five groups — Progressive, Berkshire Hathaway (GEICO), State Farm, Allstate and USAA — collectively represent 78% of Florida’s auto insurance market. One of […]
Florida Announces Arrest of Insurance Agent for Fraudulent Tow Truck Policy Scheme
Florida Chief Financial Officer Blaise Ingoglia announced the arrest of a licensed insurance agent and an unlicensed individual for selling fraudulent commercial insurance policies for tow trucks in Miami-Dade County. Javier Gonzalez Jr., a licensed insurance agent, and Aliba Lamas Alvarez were arrested Feb. 5 by the Department of Financial Services Criminal Investigation Division. Investigators […]
Kin Insurance Launches Auto Coverage in Florida, Texas
Kin Insurance Inc. has introduced auto insurance for existing home insurance customers in Florida and Texas, offering up to 20 percent discounts on auto premiums for policyholders who bundle both coverages. The direct-to-consumer digital insurance provider’s expansion into auto insurance targets homeowners in two states where the company already provides home coverage. Bundled customers can […]
Progressive to Begin Returning Excess Profits to Florida Auto Insurance Policyholders
Progressive Insurance will begin issuing credits to Florida personal auto policyholders after determining it exceeded the state’s statutory profit limit for the 2023-2025 accident year period. Florida law requires insurance carriers to return excess profits on a pro rata basis to policyholders when profits exceed the statutory limit. The insurer said it is issuing credits […]
USAA Files for 7% Auto Insurance Rate Decrease in Florida
USAA has filed for a 7% average decrease in auto insurance rates in Florida. The rate decrease is expected to take effect by May 2026 and would result in an estimated $125 million in annual savings for the insurer’s Florida policyholders. USAA serves military members, veterans and their families. “Every dollar counts for our active-duty […]
Collision Partners Completes First Two Acquisitions in Southeast
Collision Partners has completed its first two acquisitions, purchasing Fantastic Finishes, located in West Palm Beach, Fla. and Chassis Master, in Miramar, Fla. as the company begins expansion across the Southeastern United States. Russ Swift, founder of Fantastic Finishes, joins Collision Partners as director of strategic operations and as an equity partner. Scott Woodard, a […]
Florida Auto Insurers Cut Rates as State Officials Credit Legal Reforms
Top five insurance companies continue to reduce rates following recent 6.5% reduction across 78% of the auto insurance marketplace. Florida Insurance Commissioner Mike Yaworsky said the state’s auto insurance market continues to see rate reductions from major carriers, which he attributed to legal reforms enacted over the past two years. Yaworsky recently announced that the […]
Quality Collision Group Enters Florida with Acquisition of Luxury Collision Repair Center
Quality Collision Group announced it acquired 1st Class Auto in Pompano Beach, Fla., marking the Texas-based consolidator’s entry into its 13th state. The acquired shop specializes in luxury vehicle repair and holds certifications from Audi, Aston Martin, Acura NSX, Jaguar, Porsche, Range Rover and Tesla. The certifications require specific training, equipment and repair procedures to […]
General Motors Insurance Now Available in Florida
General Motors Insurance announced online that it is now available in Florida. With the addition, the total number of states where its auto insurance product is available grows to 18. In July, General Motors Insurance added three new states, including Arkansas, Colorado and Louisiana. General Motors Insurance is currently available in Alabama, Arizona, Arkansas, Colorado, […]
Florida Body Shop Owner Pleads Guilty to Bank Fraud
A Lakeland, Fla. auto body shop owner pleaded guilty to bank fraud after operating a scheme that defrauded financial institutions of more than $180,000 over two years, federal prosecutors announced earlier this month. Abraham Othman Yacoub, 27, faces up to 30 years in federal prison. A sentencing date has not been scheduled. From January 2021 […]
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