Paul Sanchez
Cincinnati Insurance, a subsidiary of Cincinnati Financial Corporation, is a small insurer in Florida with fewer than 13,000 home policies. The company was under investigation by Florida officials in 2007 for allegedly failing to comply with a new law mandating rate reductions. As of February 2025, Cincinnati Insurance Company WC Claims is located in Saint Petersburg, Florida, and offers insurance services. Cincinnati Insurance sells homeowners policies through independent agents, with various options for standard and high-value homes.
| Characteristics | Values |
|---|---|
| Does Cincinnati Insurance write in Florida? | No, it is not writing new policies in the state. |
| Number of home policies in Florida | Fewer than 13,000 |
| Services | Homeowners insurance with various options for standard and high-value homes. |
| Discounts | Bundling home and auto insurance, having a newer home, or installing a centrally monitored alarm system. |
| Add-ons | Identity theft coverage, personal cyber-attack coverage, and certain types of water damage coverage. |
| Investigation in Florida | Under investigation by Florida officials for complying with a new law requiring rate reductions. |
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What You'll Learn
- Cincinnati Insurance was under investigation in Florida in 2007
- The company was served subpoenas by the Florida Office of Insurance Regulation
- Cincinnati Insurance offers homeowners policies in Florida
- The company was ordered to testify at a public hearing in 2007
- Cincinnati Insurance is a small insurer in Florida, with fewer than 13,000 home policies
Cincinnati Insurance was under investigation in Florida in 2007
In 2007, Cincinnati Insurance was under investigation in Florida for allegedly failing to comply with a new state law that required insurance companies to reduce their rates. The Florida Office of Insurance Regulation served subpoenas to Cincinnati Financial Corp., the parent company of Cincinnati Insurance and Cincinnati Indemnity, seeking information on how the subsidiaries set their rates. The investigation aimed to determine if insurance companies were passing on savings to customers as required by the law, which expanded the amount of state backup reinsurance coverage available, leading to potential cost savings for the companies.
Florida Governor Charlie Crist and Insurance Commissioner Kevin McCarty suspected that some insurance companies, including Cincinnati Insurance, might be keeping premiums illegally high despite the law mandating rate reductions. The company, a relatively small insurer in Florida with fewer than 13,000 home policies at the time, was ordered to testify at a public hearing in Tallahassee on October 18, 2007. Cincinnati Insurance stated its intention to comply with the investigation while also requesting that the scope of information sought be narrowed, citing the burden of producing an extensive amount of documentation.
While the specific outcome of the 2007 investigation into Cincinnati Insurance's rate-setting practices in Florida is not immediately clear, the incident highlights the regulatory scrutiny faced by insurance companies in the state. Florida's insurance market has been prone to crises, with frequent natural disasters, litigation expenses, and complex financial structures contributing to volatility. As of 2025, Florida homeowners continue to face high insurance rates, and some companies have stopped selling policies or gone out of business due to heavy losses.
Cincinnati Insurance continues to operate in Florida as of 2025, offering homeowners policies through independent agents. The company provides various coverage options, including special packages for higher-value homes, and offers discounts for bundling home and auto insurance. However, it is worth noting that Cincinnati Insurance is not writing new policies in Florida at the time of writing.
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The company was served subpoenas by the Florida Office of Insurance Regulation
In 2007, Cincinnati Financial Corporation, which controls two property insurance companies—Cincinnati Insurance and Cincinnati Indemnity—was under investigation by Florida officials. The investigation sought to determine whether insurers were complying with a new state law mandating rate reductions. As a result, the company was served subpoenas by the Florida Office of Insurance Regulation, requesting correspondence with trade groups and other documents related to how the subsidiaries set their rates.
Florida had passed a law that increased the availability of state backup reinsurance coverage for insurance companies operating within the state. Consequently, these companies were legally required to pass on the resulting cost savings to their customers. However, Florida Governor Charlie Crist and Insurance Commissioner Kevin McCarty suspected that some companies might be retaining these savings and illegally maintaining high premiums.
In response to the subpoenas, Cincinnati Financial Corporation stated that it would endeavour to produce the requested documents by the given deadlines and cooperate with the Florida Office of Insurance. The company also requested that the scope of the request be narrowed, arguing that the amount of information demanded was excessive and burdensome.
At the time, Cincinnati Insurance was a relatively small insurer in Florida, with fewer than 13,000 home policies, and it was not writing new policies in the state. Despite this, the company offered various coverage options for standard and high-value homes in Florida, including additional coverage for identity theft, personal cyber-attacks, and certain types of water damage.
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Cincinnati Insurance offers homeowners policies in Florida
Home insurance rates in Florida have skyrocketed in recent years due to frequent natural disasters, litigation expenses, and other factors. As a result, many insurance companies have raised their rates, stopped selling policies in the state, or gone out of business.
Cincinnati Insurance, a relatively small insurer in Florida, offers homeowners policies in the state through independent agents. They provide various coverage options for standard and high-value homes, including additional coverage for identity theft, personal cyber attacks, and certain types of water damage.
Cincinnati Insurance was under investigation by Florida officials in 2007 for allegedly not complying with a new law requiring rate reductions. The investigation centred around whether the company was passing on savings to customers, as required by the law, due to increased access to state backup reinsurance coverage. Despite this setback, Cincinnati Insurance continues to serve Florida, offering discounts for bundling home and auto insurance, having a newer home, or installing a centrally monitored alarm system.
It is important to note that Cincinnati Insurance may not write new policies in certain areas of Florida, and potential customers should review their coverage options carefully. Florida homeowners, particularly those in high-risk coastal areas, should also be aware that most homeowners' policies do not cover flooding or wind damage, which could be crucial protections in the event of a hurricane.
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The company was ordered to testify at a public hearing in 2007
In 2007, Cincinnati Insurance, a property insurance company, was under investigation by Florida officials. The company was ordered to testify at a public hearing in Tallahassee on October 18, 2007. The investigation centred around whether insurers were complying with a new state law that required them to pass on savings to customers in the form of reduced rates. The law, passed earlier that year, expanded the amount of state backup reinsurance coverage available to insurance companies operating in Florida. As a result of this increased coverage, companies were expected to lower their premiums. However, Florida Governor Charlie Crist and Insurance Commissioner Kevin McCarty suspected that some companies, including Cincinnati Insurance, were not reducing their rates as required and were instead keeping premiums illegally high.
In response to the investigation, Cincinnati Insurance stated that they were a relatively small insurer in Florida, with fewer than 13,000 home policies, and that they were not writing new policies in the state. They also asked a judge to narrow the scope of the information request, arguing that the amount of information they were being asked to produce was too broad and burdensome. Despite this, the company affirmed that they would comply with the investigation to the best of their ability.
The public hearing on October 18 was scheduled to review the company's compliance with the new law and determine whether they were passing on savings to their customers as required. The company was ordered to provide various documents and correspondence related to how they set their rates. This included subpoenas from the Florida Office of Insurance Regulation, seeking communication with trade groups and other relevant documents.
Cincinnati Insurance's response to the investigation and their willingness to cooperate reflect their commitment to transparency and compliance with state regulations. While the outcome of the public hearing is not publicly available, it is essential to recognise that the company took steps to address the concerns raised by Florida officials and work collaboratively with the Florida Office of Insurance Regulation.
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Cincinnati Insurance is a small insurer in Florida, with fewer than 13,000 home policies
Cincinnati Insurance is not writing new policies in Florida. The company does, however, sell homeowners policies through independent agents, with various options for standard and high-value homes. Customers may be able to add coverage for things like identity theft, personal cyber-attacks, or certain types of water damage.
Florida home insurance rates have shot up in recent years due to frequent natural disasters and litigation expenses that insurers pass on to consumers. In the face of heavy losses, many insurers have raised rates, stopped selling policies in Florida, or gone out of business. Some of the biggest homeowners insurance providers in the state by market share include Universal Property, State Farm, Florida Peninsula, Tower Hill, and USAA.
Cincinnati Insurance has a physical location in Saint Petersburg, Florida, as listed on Yelp.
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Frequently asked questions
No, Cincinnati Insurance is not writing new policies in Florida.
Some of the biggest homeowners insurance providers in Florida include Universal Property, State Farm, Florida Peninsula, Tower Hill, USAA, and Citizens Property Insurance.
Most homeowners insurance policies in Florida cover damage from wind but not flooding. If you live in a high-risk coastal area, your policy may also exclude wind coverage. It is recommended that you carefully review your policy to understand your specific coverage.
