The Florida Insurance Crisis: Lessons Louisiana Can’t Afford to Ignore
How to start saving money
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Why it is important to start saving
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How much money should I save?
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What percentege of my income should go to savings?
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Florida Homeowners Outraged as Insurance Execs Rake in Millions While Premiums Soar
CAPE CORAL, Fla. — As Florida families face skyrocketing insurance premiums, newly released government filings reveal staggering executive pay at one of the state’s fastest-growing insurers.
According to a 132-page filing with the U.S. Securities and Exchange Commission, Slide Insurance CEO Bruce Lucas awarded himself more than $21 million in 2024. His wife, who serves as Slide’s Chief Operating Officer, received $16.5 million. With bonuses and stock awards factored in, the couple’s combined compensation has exceeded $50 million in just one year.
For Florida homeowners, that revelation comes as a gut punch.
“I was shocked when I heard how much they’re making,” said Bob Esposito, a Cape Coral resident. “My daughter just renewed her policy, and her premium almost doubled. I’m expecting the same thing to happen to me.”
Slide Insurance, launched in Tampa just three years ago, has grown rapidly—absorbing more than 340,000 policies, many through takeovers from Citizens Property Insurance, the state’s insurer of last resort. In 2024 alone, Slide’s profits nearly doubled to $201 million, while homeowners saw average rate hikes of 20% or more, according to state data.
Consumer advocates argue this disparity underscores deep flaws in Florida’s insurance market.
“It’s out of control,” said Doug Quinn, Executive Director of the American Policyholder Association. “The regulators are simply not holding these insurance companies accountable.”
The outrage is further fueled by the fact that Lucas’ compensation rivals that of the CEO of State Farm, a nationwide giant with 100x more policyholders.
“The greed! The rich get richer and the poor get poorer,” said Cape Coral resident Mary Bousquet. “It’s just so unbalanced. The whole thing is out of control — it has to be fixed somehow.”
For now, regulators have not commented on Slide’s executive pay or its ongoing rate hikes, while homeowners brace for another round of premium increases. Slide, citing a regulatory “quiet period,” declined to respond to questions.
Takeaway: As Florida’s insurance crisis deepens, many are asking whether the system is designed to protect homeowners—or the corporations profiting from their vulnerability. See the full story at https://www.gulfcoastnewsnow.com/article/insurance-ceo-paid-florida-homeowners-struggle-soaring-rates/65014320
20 years of experience in energy efficiency and rooftop solar development, now building Fortifyy.
