Vision Insurance Exchange approved to operate as Florida domestic insurer

By Ashish Tiwari

Aug 20 - (The Insurer) - The Florida Office of Insurance Regulation (OIR) has approved startup reciprocal insurer Vision Insurance Exchange to operate as a domestic insurer in the state, according to a consent order issued on August 7.

The regulator has authorized the carrier to write fire and homeowners multi-peril lines of insurance in the state.

Vision Insurance was formed in January this year. According to the company’s website, it plans to begin offering HO3 (homeowners), HO6 (condo) and DP3 (dwelling) policies in the fourth quarter of 2025, initially through a Citizens Property Insurance take-out in November.

“Plans are also in the works to add E&S products along with several commercial solutions and expansion into other coastal states,” the company’s website stated.

The Cape Coral-based startup was set up in January this year by Roger Desjadon and Ron Scalzo.

The insurer is led by CEO Desjadon, a former chief executive of Florida Peninsula Insurance. Its chairman and chief operating officer Scalzo previously led Flagler Insurance Agency and Express MGA, while operations are overseen by Ron Natherson, former CEO of Gulfstream Property and Casualty Insurance.

The nod comes as Florida regulators continue to approve new entrants to strengthen the state’s property insurance market, which has faced years of strain from hurricane losses, litigation costs and insurer insolvencies.

As of August, 15 carriers, including Vision, have been approved by the insurance regulator to write business in Florida since legislative reforms were passed in 2022 and 2023.

These carriers include several that were set up as reciprocal insurers: Apex Star Reciprocal Exchange, Trident Reciprocal Exchange, Ovation Home Insurance Exchange, Manatee Insurance Exchange, Condo Owners Reciprocal Exchange, Orange Insurance Exchange and Tailrow Insurance Exchange.