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Inadequate Insurance

The risk of inadequate insurance coverage can have long-lasting financial impacts on all property owners. Understanding the implications of specific board decisions is crucial for community stability.

Takeaway: In 2026 the Board made the decision to exit the state insurance guaranty fund without consulting owners. This fund is meant to protect insureds when a catastrophe bankrupts an insurance company.

Florida surplus lines disclosure notice with highlighted text explaining lack of protection from the Florida Insurance Guaranty Act.
Insurance face page showing Florida surplus lines law notice highlighted in yellow, explaining no guaranty fund protection.
Letter from a financial institution denying a mortgage due to insufficient master insurance coverage, with key sentence highlighted in yellow.
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