15th home insurer entering Florida market since reforms enacted

Suddenly insurance companies seem to be falling out of the sky in Florida.

Another new company — the 15th since lawmakers enacted reforms in 2022 and 2023 to quell litigation

costs — has been permitted by the Florida Office of Insurance Regulation and will begin to sell homeowner

insurance in the state if the company’s application for a Certificate of Authority is approved.

Vision Insurance Exchange, headquartered in Cape Coral, plans to begin operating in November. According to

its website, the company will offer coverage to homeowners in every Florida county except Monroe, where

the Florida Keys are located.

Officials of the company did not immediately respond to an email and text message seeking comment late

Monday.

The new company will build its initial book of business by participating in efforts to depopulate state-owned

Citizens Property Insurance Company, the website says. It will offer all-perils home and condo insurance

policies as well as dwelling/fire policies to Citizens customers.Next year, the company will offer policies on

the voluntary market, the website says.

What that means is that independent agents will be able to offer the company’s policies to customers who are

shopping for insurance.

The website describes the company as “designed exclusively with the independent agent in mind,” adding,

“we intend to stand alongside our policyholders in delivering peace-of-mind insurance solutions.”

The company’s CEO is Roger Desjadon, who served in that role at Boca Raton-based Florida Peninsula for

nearly 18 years before retiring in 2022.

Prior to that, he was CEO of Prudential Property & Casualty from 2001 to 2004, according to his LinkedIn

page.

Stacey Giulianti, chief legal officer at Florida Peninsula, praised Desjadon in an email on Monday.

“Roger was our CEO for many years and is one of the most knowledgeable minds in the property insurance

ield,” Giulianti wrote.

“More competition is better for the Florida consumer and insurance marketplace, and this is more evidence

that the state’s insurance market is stabilizing.”

Mark Friedlander, senior director of media relations for the industry funded Insurance Information Institute,

said more insurers have entered Florida than any other state because the reforms “curbed legal system abuse

and the rampant volume of frivolous lawsuits being driven by billboard attorneys.”

He added, “Florida now has an environment conducive to writing profitable business in all areas of the state,

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