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Homeowners association fees in Florida have surged over the past year, driven by rising insurance costs and new safety regulations, leading to financial pressures on condo owners and declining condo market prices.

Due to recent legislative changes (HB 1503), effective as of July 1, 2024, approved surplus lines insurers – that meet specified criteria and are approved by the Office of Insurance Regulation (OIR) – may now participate in depopulation. Policies that are eligible for assumption by an approved surplus lines insurer are limited to those that provide coverage for a non-primary residence that does not have a homestead exemption.

Florida Governor DeSantis, alongside Florida Division of Emergency Management (FDEM) Executive Director Kevin Guthrie, visited areas impacted by Hurricane Debby to evaluate the damage and engage with residents and businesses about available recovery resources.