The Florida Office of Insurance Regulation has reported in its "Statewide Commercial and Personal Summary by Company and Policy Type 2025 Q1" that Slide Insurance canceled 5.5% of its homeowners' policies during the first quarter of 2025.
According to the Florida Office of Insurance Regulation (FLOIR) data report for Q1 2025, the state's insurance market has shown signs of increased stability and resilience, with most private carriers maintaining consistent coverage for homeowners. Regulatory reforms and stronger capital requirements have resulted in most insurers reducing cancellation rates and providing greater policyholder protections. This environment has allowed more Florida residents to secure reliable coverage even during a challenging economic and weather period.
FLOIR data highlights that most of Florida's leading insurers have sustained or improved their customer retention in early 2025, supporting market stability. However, Slide Insurance stood out by canceling 15,977 homeowners' policies out of 292,029 in force, resulting in a 5.47% cancellation rate, which was the highest among major private carriers. This sharp contrast underscores the effectiveness of market-wide reforms while drawing attention to Slide's ongoing management challenges.
The report by FLOIR and recent policy reforms have positioned Florida's insurance sector to better withstand financial shocks, limit market exits, and encourage new entries, with most insurers demonstrating improved consumer outcomes. Despite this overall progress, Slide Insurance's elevated rate of policy cancellations has disrupted coverage for thousands of policyholders, standing out in an otherwise strengthening market. Such outlier behavior remains the exception as industry-wide standards continue to improve.
Slide Insurance is a technology-enabled property insurance company founded in 2021 by Bruce and Shannon Lucas, with headquarters in Florida. The company launched operations in February 2022 and has since grown to become one of the largest coastal insurance companies in the U.S., offering home, condo, landlord, and commercial residential products through a network of over 5,000 agents in Florida and South Carolina. With a Financial Stability Rating of A (Exceptional) from Demotech, Slide emphasizes flexibility, stability, and community support for its policyholders, aiming to make property insurance more accessible and resilient for coastal homeowners.