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Two more Florida property insurers have stopped accepting new business in the state. One of them blamed it partly on unfair and unexpectedly large price increases from reinsurers this year. The other carrier said that, despite reinsurance issues, it will likely resume writing later in a few months – in the middle of hurricane season.
“We will accept new business applications with effective dates in the fourth quarter and beyond, and we anticipate opening up to process those applications starting in August,” reads a statement from Centauri Insurance, part of Applied Underwriters. “However, we do expect that new business capacity targets for the fourth quarter will also fill up quickly, and we might then have to stop the inflow of new business again for a while.”
Centauri, which includes Centauri National Insurance and Centauri Specialty Insurance, along with…