Hello everyone.
Florida's property insurance reforms are continuing to show signs of progress, and the latest developments provide encouraging evidence that the market is moving in the right direction. Citizens Property Insurance President Timothy Cerio recently said "the market is working," pointing to the dramatic decline in Citizens policies as private insurers take on more business. Citizens now has about 255,000 policies, down from nearly 1.4 million in 2023. Litigation involving Citizens claims also has declined 55% since 2023, which Cerio attributed to recent legislative reforms.
The progress extends into the private market, where Florida Insurance Commissioner Mike Yaworsky recently reported that 48 companies have filed for rate decreases since January 2024, while another 53 have requested no change or an increase. Yaworsky also said he expects to see more rate reductions in the coming months and into 2027. Click HERE for the official Florida Office of Insurance Regulation announcement of this news.
These developments match the progress Florida Realtors has advocated for in recent years. We have consistently supported reforms designed to reduce litigation costs, strengthen the private insurance market, expand consumer options and ultimately help bring greater stability to insurance costs. While challenges remain for Florida property owners, the shrinking Citizens policy count, increased private-market participation and growing number of rate reduction requests show that those efforts are having an impact.
For REALTORS®, there is also a practical takeaway: encourage clients to shop their insurance coverage. As more private carriers enter the market and existing carriers seek rate reductions, homeowners may have more options than they realize. As Cerio advised Citizens policyholders facing a significant renewal increase, consumers should shop the market rather than automatically accepting a higher premium.
21st Century ROAD to Housing Act: Disaster Recovery Reforms
A little-noticed section in the new 21st Century ROAD to Housing Law provides a three-year authorization for the Community Development Block Grant Disaster Recovery (CDBG-DR) program, a long-standing National Association of REALTORS®' priority.
CDBG-DR is the federal government's primary program for rebuilding and repairing permanent housing after major disaster declarations by the president. Historically, Congress has had to authorize funding for the program following individual disasters, and not every disaster received CDBG-DR assistance. When funding was approved, HUD often had to develop new program requirements for each allocation, creating inconsistent rules and delaying long-term housing recovery.
The new three-year authorization allows HUD to establish standing program rules, creating a more predictable framework for disaster recovery assistance. For homeowners and communities, that could mean faster access to recovery funds, more consistent program requirements, and a quicker path to rebuilding housing after hurricanes, floods, wildfires, and other disasters.
The authorization represents a significant policy victory and an important milestone in NAR's long-running effort to improve disaster housing recovery. NAR will continue working with Congress and HUD to ensure the program is fully implemented and delivers timely housing assistance to disaster-affected communities.
Read the full story HERE.
U.S. Senate Committee Advances Terrorism Risk Insurance Act (TRIA) Reauthorization
On September 17, 2026, the Senate Banking Committee unanimously approved S. 4395, a seven-year extension of the Terrorism Risk Insurance Act (TRIA) through 2034, sending the bill to the Senate floor. TRIA helps ensure the availability of terrorism insurance coverage, which is required to finance many commercial real estate projects across the country.
Ahead of the markup, NAR sent a letter and joined a coalition letter supporting the legislation. Both letters emphasized that Congress should reauthorize TRIA this year, well before its December 31, 2027 expiration, to avoid market uncertainty and disruptions in coverage availability. Past delays have led insurers to add conditional exclusions to policies, leaving borrowers exposed and putting commercial property owners at risk of technical default.
Read the full story HERE.
How to Talk to Home Buyers About Data Centers
When buyers see a large data center near a property, they may have questions about home values, electricity costs, water use, traffic, noise and future development. NAR research indicates there is no one-size-fits-all impact: effects can vary by market and even within the same region. Surveyed Realtors reported mixed experiences, with some seeing increased demand and values, others seeing decreases, and many seeing no change or being unsure.
NAR recommends putting concerns in context and focusing on the individual property and local market. Agents can examine the facility's distance and visibility, nearby infrastructure such as transmission lines and substations, and local sales, inventory, days on market and buyer demand. Comparing similar properties near and farther from a data center can provide more useful insight than relying on assumptions about its impact.
Research so far has found no consistent pattern of weaker housing markets in counties with significant data center activity. Those counties generally have higher home values, incomes and employment growth, although researchers caution that the data shows an association--not that data centers caused those outcomes. Realtor.com research also found that home values near large data centers generally tracked comparable areas without data centers within two years of a facility opening. A Northern Virginia study similarly found no evidence that proximity to data centers negatively affected home values, though researchers noted the region has unique market conditions.
For buyers with concerns, agents can help them research what exists, what is proposed and what local zoning and development plans allow. Public records and information from local planning and utility officials can provide insight into potential future infrastructure, additional facilities and community changes. The overall takeaway is to use reliable local information and market data while recognizing that buyer perceptions can influence individual purchasing decisions.
Read the full NAR story HERE.
In Other News
Florida Realtors CEO Margy Grant's Case for Amendment 3 (Podcast)
Data Centers Fuel AI Boom and Community Backlash
New Laws, Final $1 Minimum Wage Hike Arrive with October
Florida jobless rate falls for third straight month
Rain transforms Florida Everglades after drought, benefiting wildlife and businesses
This Week in Florida History (September 20- 27)
Sept. 23, 2009: Cypress Gardens in Winter Haven closed its gates for the final time. Opened in 1936 by Dick and Julie Pope, Cypress Gardens was Florida's first theme park and became famous for its botanical gardens, Southern Belles and pioneering water-ski shows. In fact, the park helped establish Florida as a major tourism destination long before the arrival of Walt Disney World.
Please reach out to us at publicpolicy@floridarealtors.org with any questions you may have.
Sincerely,
Trey Goldman
Senior Vice President of Public Policy
Florida Realtors®