Key facts
- Sypher Insurance Exchange received its Certificate of Authority from Florida regulators.
- The company is now permitted to write homeowners policies in Florida.
- Sypher Insurance Exchange is based in Tampa, Florida.
- The exchange plans to focus on organic growth and an agent-first distribution strategy.
Florida's property insurance market has faced significant challenges in recent years, including high rates of claims and insolvencies of several insurers. The state has implemented various reforms aimed at stabilizing the market and attracting new carriers. Sypher's entry could signal increased competition and capacity in the homeowners insurance sector.