Risky business: More insurers willing to back Florida property, but how healthy are they?

Twelve new insurers have entered the Florida property insurance market this hurricane season, signaling potential market stabilization. Despite new entrants, seven companies failed the state's catastrophe stress test, raising concerns about the effectiveness of recent reforms. Debate continues regarding the balance between consumer protection and insurer accountability in the wake of legislative changes affecting lawsuits against insurance companies. [Source: Palm Beach Post]

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» Florida homeowners hit again by rising insurance rates — but there’s a silver lining

Brevard rocketing to recovery: Florida's Space Coast is one of fastest-growing economies in U.S.

Florida's Space Coast is experiencing rapid economic growth, driven by diverse sectors like space, aviation, tourism and health care. The rise of commercial space companies like SpaceX and Blue Origin has offset the impact of the space shuttle program's end. While the economy thrives, challenges remain, including balancing development with environmental protection and maintaining housing affordability. [Source: Florida Today]

Nearly half of Floridians are living paycheck to paycheck, report finds

Only three states — Louisiana, Mississippi and New York — have higher percentages of residents under such financial pressure. Florida’s affordability crisis is the major driver. A surge of transplants during and after the pandemic, rising costs, especially for housing and child care, and insufficient wages have pushed more Florida households to the financial brink. And if those pains aren’t addressed, warns Florida Chamber of Commerce CEO Mark Wilson, many might be forced to leave the state. [Source: Miami Herald]

Florida leaders heading to France on trade mission

Gov. Ron DeSantis and other state, business and education leaders are heading overseas on a three-day trip next week to France. “Our next trade mission delegation is headed to France and the 55th International Paris Air Show,” DeSantis said in a statement to announce the Monday-Wednesday visit. “Florida’s focus on manufacturing, aviation, and the space industry already makes it a global leader in aerospace. Our efforts on this trip will be to promote further investment in our state and bring more high-paying jobs to Florida.” [Source: Florida Politics]

Rivers can supercharge Gulf hurricanes, USF study finds

Hurricane Idalia caught forecasters by surprise in 2023 when the storm rapidly intensified into a major hurricane overnight as it hurtled toward Florida’s west coast. The Gulf of Mexico was record-hot that summer, fueling tropical activity and a mass coral reef die-off, but Idalia’s jump from a Category 1 to a Category 4 still seemed extreme to experts. A new study led by researchers at the University of South Florida’s St. Petersburg campus has found another unreported boost to the deadliest storm to strike the U.S. that season: fresh water from nearby rivers. [Source: Tampa Bay Times]

Navigating local zoning, codes and ordinances for property’s highest and best use

Florida’s growing population has made available land ever more scarce. Local governments’ proactive steps to shape their communities has led to updates in master plans, new ordinances, more stringent staff reviews, and stricter code enforcement, which can often conflict with developers’ and property owners’ intentions. As a result, commercial developers seeking project approvals, local businesses applying for tax licenses, and residential property owners facing permitting or code enforcement issues, dealing with municipal or county regulations can be complex, costly, and time-consuming.ane Idalia ght forecasters by surprise in 2023 when the storm rapidly intensified into a major hurricane overnight as it hurtled toward Florida’s west coast. The Gulf of Mexico was record-hot that summer, fueling tropical activity and a mass coral reef die-off, but Idalia’s jump from a Category 1 to a Category 4 still seemed extreme to experts. A new study led by researchers at the University of South Florida’s St. Petersburg campus has found another unreported boost to the deadliest storm to strike the U.S. that season: fresh water from nearby rivers. [Source: Tampa Bay Times]

ALSO AROUND FLORIDA:

› Healthcare companies chase cures and capital in South Florida [South Florida Sun-Sentinel]
Leaders of hundreds of public healthcare companies are in South Florida this week, talking up their innovations and financial performances to attract and impress investors at the Goldman Sachs Global Healthcare Conference. Consumers will find that nearly every disease or ailment they suffer from has a treatment in development, as big and small companies see opportunities in Americans’ desire to live longer and pain-free.

› A Tampa-founded tech company just moved its headquarters to California [WTSP]
A Tampa-founded cybersecurity company has relocated its corporate headquarters to California. Deepwatch announced the move Tuesday, touting its move to Silicon Valley and its growth "from coast to coast." The company, which held a ribbon-cutting ceremony at the new headquarters Tuesday morning, still plans to keep "strong operational roots" in Tampa.

› Former downtown Orlando nightlife spaces eye revival, face hurdle from recent regulations [Orlando Business Journal]
A trio of spaces that formerly housed nightclubs in downtown Orlando could soon get new life — but may require the city's approval to do so. The permit requests come in light of a city policy implemented in 2024 which prevents new nightclubs from opening within 300 feet of existing ones. While existing nightclubs close together were grandfathered in, concepts that temporarily close or go through renovations must reopen within six months or get re-approval.

› Jacksonville City Council approves $20 million incentive to draw Otto Aviation to Cecil Airport [Jacksonville Daily record]
Otto Aviation remains on a flight path to relocate to Northeast Florida after the Jacksonville City Council approved a $20 million incentive package for the Texas-based aircraft company. The 18-0 vote constituted final action on a 20-year, 75% Recapture Enhanced Value Grant for Otto, which announced in May that it had short-listed Jacksonville’s Cecil Airport as a site to build its Phantom 3500 corporate jet.

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› Miami looks at turning investigations of its officials over to county [Miami Today]
Amid accusations of political retaliation and government misuse, the City of Miami is considering transferring certain investigations of elected officials to the county to ensure transparency and prevent any appearance of bias. Miami city commissioners are to vote at a future meeting on a proposal directing the city manager to negotiate an interlocal agreement with Miami-Dade County to investigate any non-criminal complaints of city code violations involving sitting elected officials.

› Coca-Cola Florida's decade of sustainablp rogress [Sustainability Magazine]
Coca-Cola Beverages Florida is marking a milestone 10-year anniversary, symbolising a decade of sustainable practices, community integration and innovative developments in the state of Florida. Established in 2015, Coke Florida initiated its sustainable journey from central Florida and expanded rapidly to incorporate operations in both the northern and southern regions within a span of 22 months.

› Selling driver’s license appointments now illegal in Broward, will soon be illegal across state [WPLG]
The Broward County Commission unanimously passed Ordinance 2025-20, making it unlawful to “advertise, market or sell appointments for public services offered by the Florida Department of Highway Safety and Motor Vehicles or the Broward Tax Collector’s Office." Florida House Bill 961, approved by Gov. Ron DeSantis on June 5, also makes selling driver’s license appointments illegal across the entire state, but the law won’t go into effect until July 1, 2026.

› Abandoned ghost town near Jensen Beach may stick around for a while [TC Palm]
Th ghost town north of Jensen Beach is likely to stick around for a while. The cluster of abandoned buildings is owned by Riverlight Development LLC, a Fort Myers-based company that has hit a snag in its ambitious, but controversial, plan to build Riverlight, a mixed-use development. Riverlight would include nearly 80 residential units, a nine-room hotel, 4,500 square feet of shopping and a 7,600-square-foot restaurant on the 5½-acres, according to a 2024 staff report by Martin County.

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New Florida law adds driver’s ed requirement for teen learner permits