New reciprocal insurer formed to strengthen Florida's property insurance market

TAMPA, FL / ACCESS Newswire / September 22, 2025 / Praxis Reciprocal Exchange ("PRE"), a newly established property insurance carrier domiciled in Florida, today announced it has received its certificate of authority from the Florida Office of Insurance Regulation (OIR). PRE will operate as a reciprocal insurer, owned by its policyholders and managed by Pre Risk Management, LLC as its Attorney-in-Fact.

Praxis Reciprocal Exchange was formed to provide stability, choice, and long-term commitment to Florida homeowners and communities. As a reciprocal, PRE is structured to prioritize the interests of its policyholders, aligning financial results and governance directly with those it insures.

"Florida's property market faces unique challenges, and Praxis Reciprocal Exchange was built to address them with experience, financial strength, and a policyholder-first approach," said Jennifer Gravelle, President and Chief Financial Officer of Pre Risk Management, LLC. "We are committed to serving Florida residents with innovative products and responsive service, while supporting the overall resiliency of the state's insurance marketplace."

PRE's leadership team brings over 75 years of expertise in the Florida property insurance sector, spanning agency distribution, underwriting, claims management, and reinsurance. Backed by strong capital support and strategic reinsurance partnerships, PRE is positioned to provide sustainable coverage solutions to homeowners across the state.

"Launching a new insurer in today's environment is no small feat," said Richard Ficca, VP of Distribution and Agent Relations. "Our reciprocal model ensures that policyholders are at the center of every decision, creating alignment, transparency, and accountability."

Praxis Reciprocal Exchange is enabled by best-in-class technology, powered by Exzeo. Strategic formation advisory was provided by leading reinsurance advisory firm, Aon Reinsurance Solutions

With licensure secured, Praxis Reciprocal Exchange is preparing to begin offering policies in Florida in the coming months.

For more information, please visit www.praxisinsures.com

About Praxis Reciprocal Exchange
Praxis Reciprocal Exchange ("PRE") is a Florida-domiciled reciprocal insurance exchange formed to provide reliable property insurance solutions to Florida homeowners. Managed by Pre Risk Management, LLC as Attorney-in-Fact, PRE is owned by its policyholders and built on the principles of alignment, transparency, and long-term stability.

Media Contact:
Jennifer Gravelle
President and Chief Financial Officer
info@Praxisinsures.com

SOURCE: Praxis Reciprocal Exchange