JULY 24 TO JULY 30, 2025 | JAXDAILYRECORD.COM
BUSINESS & LEGAL NEWS IN BAKER, CLAY, DUVAL, NASSAU AND ST. JOHNS COUNTIES
INSIDE
THE INSURANCE ISSUE
ON THE REBOUND The homeowners insurance market is recovering from the financial crisis of 2022, but challenges remain.
THE MATHIS REPORT
Hotel is planned next to Corner Lot headquarters PAGE 4
DEVELOPMENT
Mini-golf project with 36 holes in the works PAGE 3
BY MAX MARBUT ASSOCIATE EDITOR
W
hile Florida’s residential casualty insurance companies are recovering from the assets vs. claims crisis a few years ago, there still are challenges facing homeowners when it comes to insuring their property. Florida domestic property companies reported $944 million in net income as of year-end 2024, up from $292 million at year-end 2023 and reversing the $741 million net loss in 2022
from Category 5 Hurricane Ian that caused an estimated $112 billion in damage, the most for a single storm in Florida history. A June 27 news release from the Florida Office of Insurance Regulation said that since historic legislative reforms, Florida’s market continues to stabilize and now has 14 new companies doing business in the state. The office is responsible for regulation, compliance and enforcement of statutes related to the business of insurance and the monitoring of
INSIDE Improved health: Citizens Property Insurance Corp., the state’s “insurer of last resort,” says that legislative reforms are benefiting the company. Page 12
SEE INSURE, PAGE 12
CITY GOVERNMENT
City seeks last plot for campus The city is taking steps to swap a parcel of land in LaVilla for a parcel it wants for the new University of Florida graduate campus. PAGE 8 REAL ESTATE
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THE BASCH REPORT
CSX at center of railroad merger speculation Some analysts are speculating that BNSF Railway, owned by Warren Buffett’s Berkshire Hathaway Inc., could be interested in swallowing up Jacksonville-based CSX Corp. PAGE 9
Home prices steady, off highs While home prices remained steady in June, they are off 4% from the record of a year ago. But inventories continue to climb. PAGE 10
VOLUME 112, NO. 37 | TWO SECTIONS | PUBLISHED SINCE 1912