Florida E&S Insurance Market Report
September & Q3 2025

Florida’s E&S market closed September 2025 with $1.2 billion in premium and 144,583 policies, a 15% increase in policy count compared to September 2024. This performance brought the third quarter total to $4.0 billion in premium and the year-to-date total to $13.9 billion, representing a 2% increase in premium over the same period in 2024.

MONTHLY PREMIUM BREAKDOWN

Policy counts continued to lead overall growth. The quarter closed with 460,262 policies and year-to-date totals reached 1,314,685, a 12% increase compared to 2024. This reflects the ongoing trend of slower premium growth accompanied by higher policy counts. The average cost per policy in Q3 2025 was $8,693, a 14% decrease year-over-year compared to Q3 2024.

MONTHLY POLICY COUNT BREAKDOWN

LINES OF BUSINESS

Commercial Property remained the largest line of business, producing $352.4 million in premium across 22,911 policies for September. For the quarter, totals reached $1.25 billion in premium and 83,340 policies. The average cost per policy was $15,046, down from $27,674 in Q3 2024, a 46% decline that illustrates the overall softening of the line.

Commercial General Liability showed steady activity. September closed with $193.2 million in premium and 20,061 policies, contributing to a quarterly total of $602.0 million in premium and 61,085 policies. Compared to Q3 2024, this represented a 7% increase in premium and a 2% increase in policy volume. The average cost per policy was $9,855, a 5% increase from last year.

Homeowners (HO-3) continued to expand following the repeal of the diligent effort requirement on July 1, 2025. September generated $62.2 million in premium and 13,328 policies, up 24% and 55%, respectively, from the prior year. For the quarter, HO-3 reached $234.1 million in premium and 50,810 policies, representing a 30% increase in premium and 66% increase in policies year-over-year. The average cost per policy declined to $4,607, down 22% compared to Q3 2024.

Windstorm and/or Hail also showed notable movement. September closed with $23.9 million in premium on 1,807 policies, essentially flat in premium volume but up 71% in policy count compared to September 2024. For the quarter, totals were $96.2 million in premium and 6,697 policies, a 5% increase in premium and 98% increase in policies year-over-year. The average policy cost was $14,358, down from $27,007 in Q3 2024.

TOP 10 LINES OF BUSINESS | SEPTEMBER

TOP 10 LINES OF BUSINESS | 3Q 2025

NEW BUSINESS VS. RENEWALS

Renewals continued to grow in both September and the third quarter, increasing by 2 percentage points for the month and 3 points for the quarter. This points to a market where more policyholders are maintaining coverage with existing carriers rather than moving to new ones.

CONCLUSION

Florida’s E&S market ended the third quarter with $4.0 billion in premium and 460,262 policies, bringing year-to-date totals to $13.9 billion in premium and 1.3 million policies. Premium growth was modest at 2% year-over-year, while policy counts rose 12%, continuing the trend of a softening market where higher policy volumes are paired with lower average costs.

QUARTERLY PREMIUM & POLICY COUNT | YoY COMPARISON

“While the third quarter reflected some nominal gains, the broader E&S market has now marked a full year of remaining essentially flat,” said Mark Shealy, Executive Director of FSLSO. “Policy counts are consistently rising at rates of 10 percent or more, but premium growth has been limited, with some lines even showing declines. Commercial Property continues to soften with notable decreases in average policy costs, while Commercial General Liability has held nearly neutral. Homeowners HO-3 remains a line to watch following the repeal of the diligent effort requirement. For the third consecutive month, we’ve seen policy counts climb and average costs fall, resulting in some of the lowest homeowners premiums we’ve recorded in the modern era for our market.”

www.fslso.com

Have questions? Contact us at 800.562.4496, option 1 or email agent.services@fslso.com.