Negar Sharifi, Senior Vice President of AssuredPartners, said that Florida community associations might experience stable or improved insurance costs in 2026 if the hurricane season remains quiet. This statement was made on LinkedIn.
"2026 is shaping up to be one of the more optimistic forecasts we've seen in a while," said Sharifi, according to LinkedIn. "We're seeing signs of stabilization in the property insurance market. Many 2025 premiums came in below what we projected. Liability policies are hardening, and that's driving up costs."
According to Insurance Business, Florida's reciprocal insurers are entering a previously volatile market, introducing fresh capital and restoring options for community associations, particularly condominium and homeowners association (HOA) clients. The Florida Office of Insurance Regulation (OIR) recently approved several reciprocal exchanges, including Ovation Home Insurance Exchange, Manatee Insurance Exchange, Condo Owners Reciprocal Exchange, and Orange Insurance Exchange. This highlights a trend toward reciprocal structures as practical solutions in high-risk environments. This influx occurs amid broader legislative reforms aimed at stabilizing Florida’s property insurance market and counteracting the withdrawal of traditional insurers.
The Florida Office of Insurance Regulation reported that establishing a reciprocal insurer in Florida follows a stringent process under Chapter 629 of the Florida Statutes. It requires submission of a business plan, financials, subscribers’ agreement, and power of attorney. The OIR approved the Condo Owners Reciprocal Exchange (CORE), a Florida-based domestic property and casualty reciprocal insurer, granting its Certificate of Authority after these requirements were met. This new approval underscores that reciprocal insurers now play an active role in Florida’s commercial residential insurance landscape, especially given recent market disruptions.
According to Legal Clarity, a reciprocal insurer is an unincorporated aggregation where policyholders, called subscribers, pool risk and share in financial outcomes. They operate collectively through an attorney-in-fact who manages underwriting, claims, administration, and regulatory compliance under a power of attorney granted by each subscriber. Florida law mandates clear subscribers’ agreements outlining surplus distribution, the ability to levy assessments if reserves fall short, and governance mechanisms such as advisory committees to oversee operations.
Sharifi has been with AssuredPartners since 2016 focusing on condominium and HOA clients across Florida. She previously served as a Commercial Insurance Agent at Brown & Brown of Florida and began her career as a Staff Accountant with Deloitte. Sharifi holds a degree in Accounting from the University of Florida and has earned the CIRMS designation reflecting her specialized expertise in community association risk management according to her LinkedIn profile.