State no longer insurance foe

Florida has sometimes had a well-deserved reputation for being an enemy of the insurance industry, with stringent regulations and high capital reserve requirements.

State Farm, which stopped underwriting new homeowners policies in 2009 in Florida and has since returned in a limited capacity, is one of several examples.

State officials say that image is no longer a reality, especially with businesses like Old Republic National Title Insurance Co. One of the largest and oldest title insurance firms in the country, the firm recently moved its executive administration offices from Minnesota to Tampa. “The timing was right for the company to redomicile in Florida, as it is a very important state to us,” Old Republic Chairman and CEO Rande Yeager says in a press release.