Navigating Commercial and Homeowners’ Rising Insurance Premiums in 2023

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Why Are Property Insurance Premiums Increasing?

Most people can expect their insurance premiums to go up this year. 

Several factors are behind the rising insurance premiums, but they all point to one general culprit: rising costs. The increasing frequency of severe weather events is causing more serious damage and costly insurance claims. Fraud is on the rise, along with the increased cost of building materials due to supply chain issues and unfilled jobs.

Insurance companies exist to protect customers from the high cost of a devastating loss. But over time their rates have to be higher than their costs, or the insurance companies wouldn’t have any capital left.

In fact, about a dozen companies have been placed into receivership by the Leon County Circuit Court or stopped selling home insurance in Florida since early 2020 because of this struggle, including:

      • FedNat Insurance Company

      • St. Johns Insurance Company

      • United Property & Casualty Insurance Company

      • Gulfstream Property & Casualty Insurance Company

      • Southern Fidelity Insurance Company

      • Bankers Insurance Group

    So what’s happening in coastal states that is pushing home insurance rates? The are several reasons, but they can be broken down into five categories:

        • Reinsurance

        • Insurance Fraud

        • Litigation Costs

        • Catastrophic Claims

        • Inflation

      Just about every state has issues with each of these to some extent, but Florida is currently struggling with all of them. 

      5 Causes for Rising Insurance Premiums

      Reinsurance Rising

      Think of reinsurance as insurance for carriers. Just like you get a homeowners policy. An insurance company buys reinsurance that covers some or all of its risk to help ensure it can pay policyholders after a catastrophic event﹘particularly in catastrophe-prone states like Florida and Lousianna. But sometimes the cost of reinsurance goes up, and when it does, so will homeowners insurance premiums.

      Historically, larger storms have caused larger losses, and that’s caused the cost of reinsurance to increase. That’s a cost companies have to cover when they set their rates.

      Extreme Weather Events and Catastrophes

      Hurricanes, floods, tornadoes, wildfires and other severe weather events have become more frequent, destructive and costly. In 2021 alone, the United States sustained 20 weather events with losses exceeding $1 billion each. Even a severe thunderstorm or strong winds can cause extensive damage. As weather-related damages go up, so does the cost of insurance overall. With increased chances of experiencing mass claims all at once, insurance companies have to set rates to cover the potential claims.

      Insurance Fraud

      While increasing reinsurance costs is a driver of property insurance rate increases, litigation costs are another issue (particularly Florida) insurance companies have to contend with when pricing homeowners insurance. And that problem is compounded by fraud, specifically insurance scams involving assignments of benefits (AOB) and repairs following catastrophic storms. In theory, an AOB should make life easier for everyone, especially the policyholder. In practice, AOBs frequently turn into inflated claims and unnecessary litigation for insurance companies.

      Litigation Now Commonplace

      Florida is the site of 79 percent of all homeowners insurance lawsuits over claims filed nationwide, even though Florida’s insurers receive only 9 percent of all U.S. homeowners insurance claims, according to the Florida governor’s office. During a special legislative session in May 2022, Florida lawmakers passed Senate Bill 2B, which Gov. Ron DeSantis signed into law. The measure is aimed at easing homeowners’ premium increases and reducing excessive litigation.

      Inflation Affects Everyone

      Another key consideration when pricing property premium coverage is the cost to repair or rebuild a home or business in the event of a loss. This is being significantly impacted by inflation. The rising cost of building materials, supply chain issues and unfilled jobs due to COVID-19 disruptions are driving up the costs of property repairs.

      We Are Here To Help Navigate Rising Insurance Premiums

      Amid market trends and global factors mainly outside the average policyholder’s control, be cautious of false promises of lower rates for commercial and personal lines coverage. Often, policyholders will shop their insurance only to realize their coverage is higher, offer less protection than what they had or cancel their current coverage only to not be able to be bound with another agent for a variety of reasons. Insurance rates are increasing nationally, not just in Florida or for homeowners. Michael Almond, who spearheads our Myrtle Beach, SC office, was cited by The Post and Courier in an recent article covering coastal South Carolina condo owners who could see their hazard insurance rates skyrocket. While the article focuses on the South Carolina condo market, the report outlines the primary factors driving insurance premiums nationally. 

      Despite challenging market conditions, Acentria Insurance is here to help. With over 50 locations and decades of experience; we are your dedicated resource for all things insurance. Allow us to properly ensure your home or business and help avoid common pitfalls that can result in higher premiums with insufficient coverage or even loss of insurance. Contact us today.


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      Rob Wagner

      Executive Vice President | Director of Sales, Southeast Region

      With over 15 years of insurance industry experience, Rob focuses on growing organic growth throughout the entire Southeast region for both Acentria Insurance and Foundation Risk Partners. Working alongside both executive leadership and territory sales leaders, Rob is instrumental in producer training, increasing retention and expanding our organizational footprint.

      As a self-proclaimed Army Brat, he was born in Fort Benning, GA, but has moved 27 times and resided in 40 different houses… all before college! His father proudly served our country for 28 years! As a graduate of Florida State University with a degree in Business Management, Rob also holds an MBA from Stetson University. A producer at heart, he specializes in large property, senior living, management liability and workers’ compensation. He enjoys meeting new team members and finds his personal success in seeing producers succeed.

      In his free time, he enjoys spending time with his wife of 22 years and their two daughters. Together they enjoy boating, offshore fishing and exercising.

      Mike Freeman

      Mergers & Acquisitions

      Leading the Acentria Mergers & Acquisitions team, Mike works with those agency principals and leaders who are interested in furthering a potential partnership with Acentria Insurance.  With over 35 years of finance and insurance experience, Mike and his team showcase the various benefits of partnering with Acentria. He works with principals through the initial phases to evaluate agency operations, books of business as well as planning and implementing fully comprehensive migration and implementation plans. He served 25 years in the banking industry in various executive-level positions transitioning to insurance in 2011 as Chief Financial Officer for Acentria Insurance. In 2017, Acentria Insurance partnered with Foundation Risk Partners where his major focus became leading Acentria Insurance’s mergers and acquisitions team.  

      Mike is a graduate of Auburn University. He is dedicated to serving his community having held numerous leadership positions including Chairman for the American Heart Association; Chairman Mental Health Association; Chairman Destin Chamber of Commerce and Board Member for United Way Okaloosa-Walton Counties. Mike is a 27-year resident of Destin, FL and enjoys spending time with his wife of 35 years, Yvonne and their two adult children and their families.

      Jenny Cirioni

      Vice President, Operations
      Northeast, Florida

      Todd Lawrence

      Executive Vice President
      Southeast Florida

      Rob Wagner

      Executive Vice President
      Southwest Florida Region

      Alan Florez

      Executive Vice President, National Sales

      Alan leads new business growth strategies and expansion, guides the development of resources and training for Sales Producers and their partnerships with Carriers. With over 15 years of industry experience, Alan also leads the Acentria Public Risk divisions working with municipalities and government entities for their coverage needs. He was appointed to the Halifax Health Board of Commissioners December 2020 and also serves as an Executive Committee member for our parent company, Foundation Risk Partners.

      Previously, Alan served as Governor Jeb Bush’s Deputy Director of Legislative Affairs and Special Assistant. He is a former member of the University of Central Florida Board of Trustees and currently volunteers his time with the Florida Council of 100, Futures Foundation of Volusia County Schools and the Community Foundation of Flagler and Volusia. Alan holds a bachelor’s degree in Political Science from the University of Central Florida.

      Anne Kraus

      Senior Vice President
      Commercial Lines Operations

      Teresa Fillmon

      Vice President
      Small Business Unit

      Alex Doberstein

      Vice President
      Benefits Resource Leader

      Eric Austin

      Operations Lead
      Port St. Lucie & West Palm Beach

      Luke Wolkers

      Executive Vice President
      Employee Benefits

      Chris Tolland

      Executive Vice President
      Northeast Florida Sales

      Brian Stanton

      Executive Vice President
      Southeast Florida

      Nathan Marks

      Executive Vice President
      Northwest Florida

      Jason Cruse

      Executive Vice President
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      Jackie Shaw

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      Agency Operations

      Jessica Parkhurst

      Senior Vice President
      Marketing & Branding

      Doreen Castro

      Senior Vice President
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      Kendall McEachern


      Kendall was a fundamental part of Acentria Insurance. As a co-founder, he brought more than 30 years of industry expertise to Acentria, helping transform the organization into a leading insurance provider. Beloved by team members, carrier partners and clients, he oversaw more than 400,000 insured multi-family units with property values greater than $22 billion, and over four million square feet of commercial office space and real estate buildings. Kendall has received numerous industry awards to include being recognized as a National Top Producer and Agent of the Year by both Insurance Business America and Insurance Journal. Away from the office, he served as chairman for the American Heart Association, actively participated in his church and golfing, watching sports and spending time with his family. Kendall passed away in January of 2021, leaving a lasting legacy on Acentria’s culture, success, industry-wide reputation – and on all of us fortunate to have worked alongside him.

      Mary Lawless

      President & Chief Operating Officer

      As President and Chief Operating Officer, Mary brings over three decades of industry expertise to Acentria Insurance. With a strong focus on Mergers & Acquisitions, Mary is passionate about partnering with new agencies and leaders to continue the overall upward growth of Acentria. She works in conjunction with the CEO to lead and deliver specialized sales products, services and industry leading capabilities while implementing business and sales strategies to the Acentria sales team and carrier partners. Mary has direct oversight of all operational leaders throughout the entire organizational footprint and is responsible for operational financials and budgets.

      She empowers her team members and because of it, is well respected by her peers and those she leads. Since her time with Acentria, Mary’s leadership has contributed to the agency’s exponential growth from 15 to well over 50 locations, increasing employment to over 700 team members, across the southeastern United States. Due to her leadership and contributions to the insurance industry, she has been nationally recognized as one of Insurance Business America magazine’s Elite Women and serves as a valuable member on the Executive Committee for Foundation Risk Partners, Acentria’s parent company. Prior to joining Acentria Insurance, Mary led operations for another national broker. Throughout her tenure, she has held a variety of management positions in Personal Lines, Select Business and Employee Benefits. Mary specializes in agency operations, partnerships and acquisitions and is truly passionate about developing team members to become great leaders.

      When not shaping the future industry leaders at Acentria Insurance, Mary enjoys traveling and spending time with her husband, Pat and their family and friends.

      Mitch Weinstein

      Partner & Co-Founder

      As partner of Acentria Insurance, Mitch plays an integral role in mergers & acquisitions. He focuses on seeking out strategic like-minded partners and agencies, across the southeastern United States, to partner and join the Acentria family.

      Mitch has over 42 years of business leadership experience that ranges from law enforcement to the finance, healthcare and insurance industries. He was instrumental in developing the nation’s first “at-risk” managed care network for physical and occupational therapy serving the worker’s compensation industry. This network paved the way for a new managed care system, based on incentives.

      Mitch is passionate about giving back to the youth of his community. He is an active supporter of the Boys & Girls Clubs of Polk County and believes in helping all young people reach their full potential. He is also the founder of Fallen First Reserve which is a non-profit organization dedicated to financially assisting those family members of First Responders killed in the line of duty and military members killed in action. Mitch also serves on the board for Fund the First.

      Kevin Mason

      Chief Executive Officer & Co-Founder

      As Chief Executive Office of Acentria Insurance, Kevin focuses on developing insurance solutions that strengthen Acentria’s presence in the market and its commitment to client-relationships and exceptional service. With over 35 years of industry experience, he specializes in the overall growth of Acentria is passionate about bringing new talent to the organization both organically and through mergers and acquisitions. Through his leadership and the support of the Executive Leadership team, Acentria Insurance instills a positive corporate culture which has led the agency in being recognized as a leader within our industry as a Top 100 Workplace, Employer of Choice, Best Agency to Work For and several other national and regional accolades.

      Before co-founding Acentria Insurance, Kevin served as Branch Manager for another national broker. Kevin holds the prestigious title as an Agent of the Year and five-time National Top Producer. He is also a key member of the Foundation Risk Partners Executive Committee, which is the parent company of Acentria Insurance, while also serving as the National Director for Carrier Relations. In addition, Kevin oversees the Sales Leadership Council, which encompasses sales leaders across the entire FRP footprint in an effort to develop and refine shared resources while offering producer training and development programs.

      Kevin received a Bachelor’s Degree in Management from the University of West Florida. He is very active in his community and served over a decade on the Board of Directors of Destin Charity Wine Auction Foundation and remains as a trustee, which funds over 14 children’s charities along the Florida Panhandle. He is also a member of the Destin Chamber of Commerce, Community Association Institute and Florida Association of Insurance Agents. In his spare time, Kevin enjoys golfing, tennis, boating and spending time with his wife Laura, and their children.